Consolidated Planning Corp Purchases New Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Consolidated Planning Corp acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,373 shares of the semiconductor company's stock, valued at approximately $308,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corundum Group Inc. boosted its position in shares of Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company's stock worth $346,000 after purchasing an additional 143 shares in the last quarter. Financial Advocates Investment Management raised its stake in shares of Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company's stock worth $867,000 after buying an additional 158 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company's stock worth $1,378,000 after buying an additional 172 shares during the last quarter. Americana Partners LLC raised its stake in shares of Microchip Technology by 5.5% during the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company's stock worth $276,000 after buying an additional 179 shares during the last quarter. Finally, Plato Investment Management Ltd raised its stake in shares of Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company's stock worth $281,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCHP. Bank of America downgraded Microchip Technology from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Citigroup cut their price target on Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Needham & Company LLC cut their target price on shares of Microchip Technology from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Raymond James reissued a "strong-buy" rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.11.

Microchip Technology Trading Up 2.8 %

Shares of NASDAQ:MCHP traded up $1.50 during trading on Monday, reaching $55.76. 7,122,783 shares of the stock were exchanged, compared to its average volume of 8,621,112. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. 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 $29.94 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50. The firm's 50-day moving average price is $56.79 and its 200 day moving average price is $68.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued 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%. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's dividend payout ratio is presently 325.00%.

About Microchip Technology

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.