Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 70.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,215 shares of the semiconductor company’s stock after selling 10,207 shares during the period. Atria Wealth Solutions Inc.’s holdings in Microchip Technology were worth $242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $5,917,000. Consolidated Planning Corp acquired a new stake in shares of Microchip Technology during the fourth quarter worth $308,000. Quadrature Capital Ltd acquired a new stake in shares of Microchip Technology during the third quarter worth $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in shares of Microchip Technology during the fourth quarter worth $520,000. Finally, Benjamin Edwards Inc. raised its holdings in shares of Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 9,230 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $58.86 on Friday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $56.94 and a 200-day moving average of $67.44. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. Analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

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

Wall Street Analyst Weigh In

MCHP has been the topic of a number of analyst reports. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Susquehanna dropped their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Citigroup decreased their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

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.