Tectonic Advisors LLC Sells 15,474 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Tectonic Advisors LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 70.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,434 shares of the semiconductor company’s stock after selling 15,474 shares during the period. Tectonic Advisors LLC’s holdings in Microchip Technology were worth $369,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology in the 3rd quarter valued at about $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $32,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology during the 3rd quarter valued at $34,000. Finally, Wolff Wiese Magana LLC boosted its position in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MCHP shares. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Piper Sandler cut their price objective on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday. Finally, Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.67.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $53.11 on Friday. The company’s 50 day simple moving average is $58.34 and its 200 day simple moving average is $70.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 1 year low of $51.37 and a 1 year high of $100.57. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 37.14 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. As a group, research analysts predict that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.43%. Microchip Technology’s payout ratio is currently 127.27%.

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.