Lmcg Investments LLC Reduces Stake in Microchip Technology

Lmcg Investments LLC has reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.5% during the fourth quarter, based on its latest Form 13F filing with the Securities and Exchange Commission. After selling 13,243 shares during this quarter, Lmcg now owns 113,016 shares of the semiconductor company. The value of Lmcg Investments LLC's investment in Microchip Technology stands at approximately $6.48 million according to the recent SEC filing.

Recently, several other large investors have also adjusted their stakes in Microchip Technology. Ballentine Partners LLC increased its holdings by 10.2% in the fourth quarter, now owning 4,713 shares valued at $270,000 after acquiring an additional 437 shares. Ellsworth Advisors LLC also raised its investment by 4.4%, now holding 30,878 shares worth $1.77 million after purchasing 1,305 shares. Clarius Group LLC enhanced its stake by 11.5%, bringing its total to 4,298 shares valued at $246,000 after acquiring an extra 442 shares.

Another significant change came from Premier Path Wealth Partners LLC, which expanded its position by 683.0% to own 23,554 shares valued at $1.35 million after buying 20,546 shares more. Additionally, Sanibel Captiva Trust Company Inc. increased its stake in Microchip Technology by 16.0%, now owning 5,311 shares worth $305,000 after acquiring 732 more shares in the previous quarter. Overall, institutional investors now own 91.51% of Microchip Technology's stock.

Wall Street Analyst Recommendations

Research analysts have been actively reviewing Microchip Technology. Stifel Nicolaus recently lowered their price target from $90.00 to $87.00 while maintaining a "buy" rating on the stock. Mizuho has also revised its target down from $85.00 to $72.00, issuing a rating of "outperform". Needham & Company reaffirmed a "buy" rating with a target price of $85.00. Likewise, Citigroup adjusted its price target downward from $92.00 to $82.00 while still rating the stock as a buy.

Further, Evercore ISI continued the trend by reiterating an "outperform" rating but reduced its target from $101.00 to $95.00. The stock currently shows one rating for sell, five ratings for hold, and thirteen buy ratings, leading to a consensus rating of "Moderate Buy" with a price target averaging around $85.00.

Microchip Technology's Stock Performance

Microchip Technology's stock opened at $57.97 recently. Over the past year, the stock has fluctuated between a low of $54.47 and a high of $100.57. The company maintains a debt-to-equity ratio of 0.71 and quick and current ratios of 0.48 and 0.88, respectively. The moving averages stand at $61.11 for the last fifty days and $73.57 for the last 200 days. With a market capitalization of $31.13 billion, the company holds a P/E ratio of 40.54 and a beta value of 1.52.

Recent Earnings Reports

Microchip Technology most recently announced its quarterly earnings on Tuesday, November 5th. The company reported earnings of $0.46 per share, exceeding analysts' expectations of $0.43. Revenue for the quarter reached $1.16 billion, slightly above the consensus estimate of $1.15 billion. Despite these positive results, the revenue reflected a decrease of 48.4% compared to the same quarter last year, where the company made $1.54 EPS. Analysts project earnings of $1.31 per share for the current fiscal year.

Dividend Information

Microchip Technology has recently declared an increased quarterly dividend, which was distributed on Friday, December 6th. Shareholders registered by Friday, November 22nd received a dividend of $0.455. This dividend reflects an annualized amount of $1.82, giving a yield of 3.14%. Prior to this, the quarterly dividend was $0.45. Currently, the company's payout ratio sits at 127.27%.

Company Overview

Microchip Technology Incorporated specializes in the development, manufacturing, and sales of connected and secure embedded control solutions across various regions, including the Americas, Europe, and Asia. The company offers a variety of products, such as general-purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers, alongside specialized microcontrollers used in automotive, industrial, computing, and communication applications.

Lmcg, Microchip, Investments