Captrust Financial Advisors Sells 1,019 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Captrust Financial Advisors decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,326 shares of the semiconductor company’s stock after selling 1,019 shares during the period. Captrust Financial Advisors’ holdings in Microchip Technology were worth $12,953,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its position in Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 131 shares during the period. Corundum Group Inc. raised its holdings in shares of Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in Microchip Technology by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 148 shares during the last quarter. Busey Bank grew its holdings in Microchip Technology by 2.6% during the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after purchasing an additional 155 shares during the period. Finally, Financial Advocates Investment Management increased its position in Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of recent research reports. TD Cowen dropped their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a report on Wednesday, November 6th. 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. Piper Sandler dropped their price target on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup cut their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $68.17 on Monday. Microchip Technology Incorporated has a one year low of $62.63 and a one year high of $100.57. 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 firm has a market capitalization of $36.61 billion, a price-to-earnings ratio of 47.67 and a beta of 1.53. The company’s fifty day moving average price is $73.71 and its 200-day moving average price is $82.25.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue was down 48.4% compared to the same quarter last year. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal 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 given a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 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.