Wealthcare Advisory Partners LLC Sells 378 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Wealthcare Advisory Partners LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,198 shares of the semiconductor company’s stock after selling 378 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Microchip Technology were worth $528,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCHP. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the third quarter valued at $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology in the third quarter valued at $34,000. Wolff Wiese Magana LLC grew its position in shares of 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 acquiring an additional 218 shares during the period. Finally, Hobbs Group Advisors LLC increased its stake 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 worth $50,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCHP. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Truist Financial downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $89.00 to $80.00 in a report on Monday, September 23rd. Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Jefferies Financial Group decreased their price target on shares of 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, The Goldman Sachs Group cut their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $57.97 on Tuesday. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 40.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The firm’s 50-day moving average is $61.11 and its 200 day moving average is $73.57.

Microchip Technology (NASDAQ:MCHP) last released 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 company 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%. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.32 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.14%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio is 127.27%.

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.