Empowered Funds LLC Reduces Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Empowered Funds LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 27.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,784 shares of the semiconductor company’s stock after selling 26,379 shares during the quarter. Empowered Funds LLC’s holdings in Microchip Technology were worth $4,002,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MCHP. CX Institutional grew its stake in Microchip Technology by 6.4% during the 3rd quarter. CX Institutional now owns 12,902 shares of the semiconductor company’s stock valued at $1,036,000 after purchasing an additional 776 shares during the last quarter. Creative Planning boosted its position in Microchip Technology by 0.6% during the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after purchasing an additional 719 shares in the last quarter. Swedbank AB raised its holdings in shares of Microchip Technology by 62.3% during the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock valued at $2,801,000 after acquiring an additional 13,392 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Microchip Technology by 24.4% during the third quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock valued at $5,422,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Indiana Trust & Investment Management Co raised its holdings in shares of Microchip Technology by 25.0% during the third quarter. Indiana Trust & Investment Management Co now owns 1,249 shares of the semiconductor company’s stock valued at $100,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. Citigroup lowered their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Up 2.4 %

MCHP opened at $53.85 on Thursday. The stock has a market capitalization of $28.96 billion, a P/E ratio of 96.16 and a beta of 1.50. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The business’s 50-day simple moving average is $57.09 and its 200-day simple moving average is $69.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. Analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Microchip Technology Company 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.