Fisher Asset Management LLC Sells 275 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Fisher Asset Management LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,808 shares of the semiconductor company’s stock after selling 275 shares during the quarter. Fisher Asset Management LLC’s holdings in Microchip Technology were worth $225,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCHP. SeaCrest Wealth Management LLC boosted its position in shares of Microchip Technology by 3.3% during the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock valued at $379,000 after buying an additional 131 shares during the period. Corundum Group Inc. boosted its holdings in Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after acquiring an additional 143 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Microchip Technology by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 148 shares during the last quarter. Busey Bank increased its stake in Microchip Technology by 2.6% in the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after purchasing an additional 155 shares during the period. Finally, Financial Advocates Investment Management lifted its position in shares of Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after purchasing an additional 158 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 0.4 %

NASDAQ MCHP opened at $68.17 on Monday. The firm has a market cap of $36.61 billion, a PE ratio of 47.67 and a beta of 1.53. Microchip Technology Incorporated has a 52 week low of $62.63 and a 52 week high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average price of $73.71 and a 200 day moving average price of $82.25.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating 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 prior year, the business posted $1.54 EPS. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.38 EPS 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. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.67%. Microchip Technology’s payout ratio is presently 127.27%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MCHP shares. KeyCorp reduced their price target on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Wednesday, November 6th. Susquehanna lowered their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. TD Cowen reduced their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One research 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, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

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.