WealthPLAN Partners LLC Has $239,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

WealthPLAN Partners LLC trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 63.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,175 shares of the semiconductor company's stock after selling 7,392 shares during the period. WealthPLAN Partners LLC's holdings in Microchip Technology were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Microchip Technology during the third quarter worth $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the fourth quarter worth $32,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology in the 3rd quarter worth about $34,000. Truvestments Capital LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC grew its position in shares of 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 buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Susquehanna reduced their price objective on Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, November 6th. TD Cowen dropped their target price on Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group cut their target price on Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup lowered their price target on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.11.

Microchip Technology Trading Up 9.9 %

Shares of NASDAQ:MCHP traded up $5.73 during midday trading on Wednesday, reaching $63.59. The company had a trading volume of 20,796,246 shares, compared to its average volume of 9,384,921. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 113.55 and a beta of 1.50. The company has a fifty day simple moving average of $56.58 and a two-hundred day simple moving average of $68.22.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.86%. The ex-dividend date is Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

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.