CENTRAL TRUST Co trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,008 shares of the semiconductor company’s stock after selling 294 shares during the period. CENTRAL TRUST Co’s holdings in Microchip Technology were worth $631,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MCHP. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the third quarter worth about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in Microchip Technology during the 3rd quarter valued at approximately $34,000. Wolff Wiese Magana LLC raised its stake in Microchip Technology by 55.2% during the third 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. Finally, Hobbs Group Advisors LLC boosted its holdings in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on MCHP shares. Jefferies Financial Group reduced their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Susquehanna reduced their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Mizuho cut their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Piper Sandler decreased their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.
Microchip Technology Price Performance
Shares of Microchip Technology stock opened at $52.26 on Tuesday. The stock has a market cap of $28.06 billion, a P/E ratio of 36.55 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The stock’s fifty day moving average is $59.29 and its 200 day moving average is $71.03. Microchip Technology Incorporated has a one year low of $51.37 and a one year high of $100.57.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.
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.
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