5,373 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Consolidated Planning Corp

Consolidated Planning Corp acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,373 shares of the semiconductor company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional raised its stake in Microchip Technology by 6.4% during the 3rd quarter. CX Institutional now owns 12,902 shares of the semiconductor company’s stock valued at $1,036,000 after acquiring an additional 776 shares during the last quarter. Creative Planning raised its stake in shares of Microchip Technology by 0.6% during the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after purchasing an additional 719 shares during the last quarter. Swedbank AB lifted its holdings in shares of Microchip Technology by 62.3% during the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 13,392 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Microchip Technology by 24.4% during the third quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock worth $5,422,000 after purchasing an additional 13,245 shares during the period. Finally, Wolff Wiese Magana LLC grew its position in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $54.26 on Friday. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 96.89 and a beta of 1.50. The company’s 50-day moving average is $56.94 and its two-hundred day moving average is $69.14. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. Research analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.35%. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on MCHP shares. TD Cowen lowered their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Citigroup decreased their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Company 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.