Chicago Capital LLC Sells 945 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Chicago Capital LLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,674 shares of the semiconductor company’s stock after selling 945 shares during the period. Chicago Capital LLC’s holdings in Microchip Technology were worth $325,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. boosted its stake in shares of Microchip Technology by 14.0% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 13,124 shares of the semiconductor company’s stock valued at $753,000 after purchasing an additional 1,607 shares during the period. Spire Wealth Management raised its holdings in Microchip Technology by 18.5% during the 4th quarter. Spire Wealth Management now owns 3,340 shares of the semiconductor company’s stock valued at $192,000 after buying an additional 521 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Microchip Technology by 6.4% in the 4th quarter. DAVENPORT & Co LLC now owns 93,382 shares of the semiconductor company’s stock worth $5,355,000 after acquiring an additional 5,610 shares during the last quarter. Symphony Financial Ltd. Co. purchased a new position in shares of Microchip Technology in the fourth quarter valued at about $520,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Microchip Technology by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,739 shares of the semiconductor company’s stock valued at $501,000 after acquiring an additional 1,934 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of Microchip Technology in a report on Tuesday, December 3rd. B. Riley cut their price target on shares of Microchip Technology from $93.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Citigroup dropped their target price 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. Finally, Jefferies Financial Group cut their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $84.00.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $52.26 on Tuesday. The company has a market capitalization of $28.06 billion, a PE ratio of 36.55 and a beta of 1.52. The business has a fifty day moving average price of $59.29 and a 200-day moving average price of $71.03. Microchip Technology Incorporated has a 1-year low of $51.37 and a 1-year high of $100.57. 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 (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.31 EPS 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.