RMR Wealth Builders Has $362,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

RMR Wealth Builders lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.6% during the 4th quarter, Holdings Channel reports. The firm owned 6,316 shares of the semiconductor company’s stock after selling 592 shares during the quarter. RMR Wealth Builders’ holdings in Microchip Technology were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Acadian Asset Management LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter valued at $788,000. LPL Financial LLC raised its holdings in shares of Microchip Technology by 15.3% in the second quarter. LPL Financial LLC now owns 370,233 shares of the semiconductor company’s stock valued at $33,876,000 after buying an additional 49,139 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Microchip Technology by 6.9% in the second quarter. Johnson Investment Counsel Inc. now owns 12,034 shares of the semiconductor company’s stock valued at $1,101,000 after buying an additional 779 shares during the last quarter. Vest Financial LLC raised its holdings in shares of Microchip Technology by 9.3% in the second quarter. Vest Financial LLC now owns 3,874 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 330 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Microchip Technology by 42.5% in the second quarter. Meeder Advisory Services Inc. now owns 14,234 shares of the semiconductor company’s stock valued at $1,302,000 after buying an additional 4,245 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $55.19 on Friday. The firm has a market capitalization of $29.64 billion, a P/E ratio of 38.59 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The business has a 50-day moving average of $62.84 and a 200-day moving average of $75.00. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last posted 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. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.30%. Microchip Technology’s payout ratio is currently 127.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCHP shares. Citigroup cut their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a report on Tuesday, December 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Evercore ISI reissued an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, Susquehanna dropped their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.11.

Microchip Technology 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.