BidaskClub cut shares of Microchip Technology (NASDAQ:MCHP) from a hold rating to a sell rating in a research note published on Saturday, BidAskClub reports.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on Microchip Technology from $72.00 to $75.00 and gave the stock an equal weight rating in a research report on Wednesday, December 19th. Needham & Company LLC cut Microchip Technology from a strong-buy rating to a buy rating and dropped their price objective for the stock from $100.00 to $90.00 in a research report on Thursday, January 24th. Zacks Investment Research raised Microchip Technology from a sell rating to a hold rating in a research note on Monday, December 10th. Cowen began coverage on Microchip Technology in a research note on Friday, February 22nd. They issued a market perform rating and a $90.00 price target on the stock. Finally, ValuEngine raised Microchip Technology from a sell rating to a hold rating in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Microchip Technology has a consensus rating of Hold and a consensus price target of $102.17.

Microchip Technology stock opened at $82.96 on Friday. The stock has a market cap of $19.66 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.05 and a beta of 1.24. Microchip Technology has a 52 week low of $60.70 and a 52 week high of $104.20. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.92 and a quick ratio of 1.83.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.21. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. As a group, sell-side analysts forecast that Microchip Technology will post 5.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were paid a $0.365 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Wednesday, February 20th. Microchip Technology’s payout ratio is currently 28.13%.

In other news, VP Mitchell R. Little sold 3,585 shares of Microchip Technology stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $91.17, for a total value of $326,844.45. Following the transaction, the vice president now directly owns 7,693 shares of the company’s stock, valued at approximately $701,370.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Eric Bjornholt sold 2,356 shares of Microchip Technology stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $89.24, for a total value of $210,249.44. The disclosure for this sale can be found here. Insiders sold a total of 14,101 shares of company stock worth $1,258,210 over the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCHP. PNC Financial Services Group Inc. lifted its stake in shares of Microchip Technology by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 99,208 shares of the semiconductor company’s stock valued at $7,828,000 after purchasing an additional 6,207 shares in the last quarter. American International Group Inc. lifted its stake in shares of Microchip Technology by 4.8% in the 3rd quarter. American International Group Inc. now owns 111,345 shares of the semiconductor company’s stock valued at $8,786,000 after purchasing an additional 5,064 shares in the last quarter. CIBC World Markets Inc. lifted its stake in shares of Microchip Technology by 256.5% in the 3rd quarter. CIBC World Markets Inc. now owns 26,243 shares of the semiconductor company’s stock valued at $2,071,000 after purchasing an additional 18,882 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Microchip Technology by 207.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 60,938 shares of the semiconductor company’s stock valued at $5,314,000 after purchasing an additional 41,097 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Microchip Technology by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 846,061 shares of the semiconductor company’s stock valued at $66,761,000 after purchasing an additional 31,867 shares in the last quarter.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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