553 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by Financial Life Planners

Financial Life Planners bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 553 shares of the semiconductor company’s stock, valued at approximately $32,000.

A number of other large investors also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new position in shares of Microchip Technology during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the 3rd quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter worth $34,000. Wolff Wiese Magana LLC raised 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 worth $49,000 after purchasing an additional 218 shares during the last quarter. Finally, Hobbs Group Advisors LLC lifted its position in Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a 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. TD Cowen reduced their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, Susquehanna decreased their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $52.26 on Tuesday. The business has a 50 day moving average price of $59.29 and a 200-day moving average price of $71.03. The company has a market cap of $28.06 billion, a PE 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 Incorporated has a 52 week low of $51.37 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted 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. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Equities analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

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.