ValuEngine downgraded shares of Microchip Technology Incorporated (NASDAQ:MCHP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other research firms have also recently commented on MCHP. J P Morgan Chase & Co restated an overweight rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Tuesday, November 7th. Needham & Company LLC raised their target price on shares of Microchip Technology from $120.00 to $130.00 and gave the stock a strong-buy rating in a research note on Tuesday, November 7th. Stifel Nicolaus restated a buy rating and issued a $100.00 target price (up previously from $94.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. B. Riley restated a buy rating and issued a $123.00 target price (up previously from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, Jefferies Group LLC raised their target price on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, November 7th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $99.41.

Microchip Technology (NASDAQ:MCHP) traded up $1.19 during mid-day trading on Wednesday, hitting $90.78. 1,785,813 shares of the stock traded hands, compared to its average volume of 2,544,512. Microchip Technology has a one year low of $60.77 and a one year high of $95.92. The firm has a market cap of $21,130.00, a PE ratio of 19.28, a PEG ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the business earned $0.94 EPS. The business’s revenue was up 16.2% on a year-over-year basis. equities research analysts forecast that Microchip Technology will post 5.12 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/microchip-technology-incorporated-mchp-lowered-to-hold-at-valuengine/1708069.html.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.3625 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is 58.00%.

In other news, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $200,876.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the sale, the vice president now owns 14,263 shares of the company’s stock, valued at $1,167,997.07. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation grew its holdings in shares of Microchip Technology by 215.5% during the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after buying an additional 836 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of Microchip Technology during the third quarter worth about $121,000. Grove Bank & Trust grew its holdings in shares of Microchip Technology by 15.8% during the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after buying an additional 190 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the third quarter worth about $146,000. Finally, Smithfield Trust Co. grew its holdings in shares of Microchip Technology by 0.4% during the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after buying an additional 7 shares in the last quarter.

Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.