Banque Cantonale Vaudoise Decreases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Banque Cantonale Vaudoise cut its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 71.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,312 shares of the semiconductor company’s stock after selling 3,268 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Microchip Technology were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in shares of Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock valued at $379,000 after purchasing an additional 131 shares during the period. Corundum Group Inc. boosted its stake 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 last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Microchip Technology by 4.5% during 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 boosted its stake in Microchip Technology by 2.6% during the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after acquiring an additional 155 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its stake in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MCHP shares. Jefferies Financial Group reduced their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Susquehanna reduced their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. B. Riley reduced their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Citigroup reduced their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Microchip Technology Stock Up 1.0 %

MCHP stock opened at $66.69 on Friday. The stock has a market cap of $35.81 billion, a PE ratio of 46.64 and a beta of 1.53. 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 firm’s 50-day simple moving average is $74.59 and its 200 day simple moving average is $83.24. Microchip Technology Incorporated has a fifty-two week low of $62.63 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s quarterly revenue was down 48.4% on a year-over-year basis. During the same quarter last year, the company earned $1.54 EPS. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 2.73%. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

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.