VisionPoint Advisory Group LLC Sells 969 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

VisionPoint Advisory Group LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 41.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,385 shares of the semiconductor company’s stock after selling 969 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Microchip Technology were worth $79,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MCHP. Pallas Capital Advisors LLC bought a new position in Microchip Technology in the fourth quarter worth approximately $5,917,000. Consolidated Planning Corp bought a new position in shares of Microchip Technology in the 4th quarter worth $308,000. Quadrature Capital Ltd purchased a new stake in shares of Microchip Technology during the 3rd quarter worth $3,312,000. Symphony Financial Ltd. Co. bought a new stake in Microchip Technology during the fourth quarter valued at about $520,000. Finally, Benjamin Edwards Inc. grew its stake in Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after purchasing an additional 9,230 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 5.0 %

Shares of Microchip Technology stock opened at $61.07 on Friday. The stock has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The firm has a fifty day moving average price of $56.68 and a 200 day moving average price of $68.16. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 2.98%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on MCHP shares. The Goldman Sachs Group lowered their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Susquehanna lowered their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.