Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Decreased by Boston Family Office LLC

Boston Family Office LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,656 shares of the semiconductor company’s stock after selling 232 shares during the period. Boston Family Office LLC’s holdings in Microchip Technology were worth $695,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MCHP. Concentric Wealth Management LLC grew its position in Microchip Technology by 6.3% during the third quarter. Concentric Wealth Management LLC now owns 36,884 shares of the semiconductor company’s stock valued at $2,961,000 after purchasing an additional 2,193 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Microchip Technology by 52.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 24,713 shares of the semiconductor company’s stock valued at $1,984,000 after purchasing an additional 8,467 shares in the last quarter. Summit Trail Advisors LLC grew its position in Microchip Technology by 16.3% during the third quarter. Summit Trail Advisors LLC now owns 5,241 shares of the semiconductor company’s stock valued at $421,000 after purchasing an additional 736 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in Microchip Technology during the third quarter valued at approximately $1,019,000. Finally, Larson Financial Group LLC grew its position in Microchip Technology by 55.9% during the third quarter. Larson Financial Group LLC now owns 2,938 shares of the semiconductor company’s stock valued at $236,000 after purchasing an additional 1,053 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. B. Riley lowered their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group reduced their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen reduced their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reduced their target price on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $69.85 on Tuesday. The stock has a market cap of $37.51 billion, a P/E ratio of 48.85 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company has a fifty day moving average price of $74.44 and a 200 day moving average price of $82.96. Microchip Technology Incorporated has a one year low of $62.63 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 127.27%.

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.