Macquarie Group Ltd. trimmed its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,800 shares of the semiconductor company’s stock after selling 700 shares during the period. Macquarie Group Ltd.’s holdings in Microchip Technology were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Morgan Dempsey Capital Management LLC purchased a new position in Microchip Technology in the 4th quarter valued at $28,000. Lindbrook Capital LLC purchased a new position in Microchip Technology in the 4th quarter valued at $32,000. Enlightenment Research LLC purchased a new position in Microchip Technology in the 4th quarter valued at $43,000. JOYN Advisors Inc. grew its position in Microchip Technology by 323.6% in the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 466 shares during the last quarter. Finally, Doyle Wealth Management purchased a new position in Microchip Technology in the 4th quarter valued at $44,000.

MCHP has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Microchip Technology from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 19th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Needham & Company LLC lowered shares of Microchip Technology from a “strong-buy” rating to a “buy” rating and lowered their price objective for the company from $100.00 to $90.00 in a research report on Thursday, January 24th. ValuEngine upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Citigroup reiterated a “buy” rating and issued a $105.00 price objective on shares of Microchip Technology in a research report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. Microchip Technology has an average rating of “Buy” and a consensus price target of $102.17.

Shares of NASDAQ MCHP opened at $95.60 on Tuesday. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.16 and a beta of 1.23. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $104.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.45 by $0.21. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The business’s revenue was up 42.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Analysts forecast that Microchip Technology Inc. will post 5.9 EPS for the current year.

In other Microchip Technology news, Director Matthew W. Chapman sold 4,660 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $91.04, for a total transaction of $424,246.40. Following the sale, the director now directly owns 19,080 shares in the company, valued at approximately $1,737,043.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mitchell R. Little sold 3,585 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $91.17, for a total transaction of $326,844.45. Following the sale, the vice president now owns 7,693 shares in the company, valued at $701,370.81. The disclosure for this sale can be found here. Insiders have sold a total of 14,101 shares of company stock worth $1,258,210 over the last 90 days. Insiders own 2.13% of the company’s stock.

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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.

Further Reading: Understanding Market Liquidity

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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