Quantbot Technologies LP Trims Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Quantbot Technologies LP trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 59.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,306 shares of the semiconductor company’s stock after selling 41,210 shares during the quarter. Quantbot Technologies LP’s holdings in Microchip Technology were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. United Bank lifted its holdings in shares of Microchip Technology by 21.0% during the third quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock valued at $793,000 after purchasing an additional 1,712 shares during the last quarter. Quest Partners LLC increased its position in Microchip Technology by 463,300.0% during the 3rd quarter. Quest Partners LLC now owns 4,634 shares of the semiconductor company’s stock valued at $372,000 after buying an additional 4,633 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Microchip Technology during the third quarter valued at $218,000. Cerity Partners LLC boosted its holdings in Microchip Technology by 14.2% in the third quarter. Cerity Partners LLC now owns 260,063 shares of the semiconductor company’s stock worth $20,880,000 after acquiring an additional 32,340 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Microchip Technology by 62.3% in the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after acquiring an additional 13,392 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 4.2 %

NASDAQ:MCHP opened at $53.89 on Tuesday. Microchip Technology Incorporated has a one year low of $49.92 and a one year high of $100.57. The business has a fifty day moving average price of $56.13 and a 200-day moving average price of $64.49. The firm has a market capitalization of $28.98 billion, a price-to-earnings ratio of 96.23 and a beta of 1.52. 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 issued 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 12.62% and a net margin of 6.49%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCHP shares. Evercore ISI lifted their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. B. Riley reissued a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Mizuho upped their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.37.

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.