Chicago Capital LLC Has $325,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Chicago Capital LLC decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,674 shares of the semiconductor company’s stock after selling 945 shares during the quarter. Chicago Capital LLC’s holdings in Microchip Technology were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Microchip Technology in the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its stake in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the last quarter. Finally, Hobbs Group Advisors LLC increased its position in shares of Microchip Technology by 390.6% during the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group cut their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Piper Sandler lowered their price objective on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Evercore ISI restated an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.00.

Microchip Technology Stock Down 3.8 %

Shares of NASDAQ MCHP opened at $52.26 on Tuesday. The business has a 50-day simple moving average of $59.29 and a two-hundred day simple moving average of $71.03. Microchip Technology Incorporated has a 52 week low of $51.37 and a 52 week high of $100.57. The company has a market cap of $28.06 billion, a P/E ratio of 36.55 and a beta of 1.52. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. Microchip Technology’s revenue for the quarter was down 48.4% on a year-over-year basis. Research analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Profile

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.