SeaCrest Wealth Management LLC Sells 381 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

SeaCrest Wealth Management LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,647 shares of the semiconductor company’s stock after selling 381 shares during the period. SeaCrest Wealth Management LLC’s holdings in Microchip Technology were worth $209,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its stake in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the period. Finally, Hobbs Group Advisors LLC lifted its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of several analyst reports. TD Cowen cut their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, December 3rd. KeyCorp decreased their price objective on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Mizuho decreased their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Stifel Nicolaus decreased their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Microchip Technology Stock Performance

MCHP opened at $57.97 on Friday. Microchip Technology Incorporated has a 12-month low of $54.47 and a 12-month high of $100.57. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 40.54 and a beta of 1.52. The business has a 50 day moving average of $61.11 and a 200-day moving average of $73.71. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.32 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued 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 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

About Microchip Technology

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.