Cooper Financial Group Trims Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Cooper Financial Group lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 67.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,194 shares of the semiconductor company’s stock after selling 8,733 shares during the period. Cooper Financial Group’s holdings in Microchip Technology were worth $241,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after acquiring an additional 1,597,263 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Microchip Technology by 2.4% during the second quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock worth $407,660,000 after purchasing an additional 103,807 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Microchip Technology by 21.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company’s stock valued at $301,797,000 after purchasing an additional 575,087 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock valued at $243,034,000 after purchasing an additional 25,872 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $56.88 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $62.10 and a 200-day moving average price of $74.32. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 39.78 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 3.20%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 127.27%.

Wall Street Analyst Weigh In

MCHP has been the topic of several research reports. Susquehanna lowered 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 report on Wednesday, November 6th. TD Cowen lowered 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. Mizuho cut 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. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $86.05.

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.