Planned Solutions Inc. Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Planned Solutions Inc. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 650 shares of the semiconductor company’s stock, valued at approximately $59,000.

Other large investors also recently modified their holdings of the company. Horizon Bancorp Inc. IN purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $110,000. Fund Management at Engine No. 1 LLC grew its stake in Microchip Technology by 7.3% in the 2nd quarter. Fund Management at Engine No. 1 LLC now owns 7,128 shares of the semiconductor company’s stock valued at $639,000 after buying an additional 488 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Microchip Technology by 14.9% in the 2nd quarter. Eqis Capital Management Inc. now owns 10,429 shares of the semiconductor company’s stock valued at $934,000 after buying an additional 1,356 shares in the last quarter. Rockline Wealth Management LLC purchased a new position in Microchip Technology in the 4th quarter valued at approximately $4,449,000. Finally, 17 Capital Partners LLC purchased a new position in Microchip Technology in the 4th quarter valued at approximately $1,827,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCHP. UBS Group reduced their price target on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Thursday, January 18th. Susquehanna dropped their price objective on shares of Microchip Technology from $105.00 to $100.00 and set a “positive” rating for the company in a report on Friday, February 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, Needham & Company LLC lifted their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.33.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $89.71 on Friday. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.65. The company has a 50-day moving average price of $86.30 and a 200-day moving average price of $83.17. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.30.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s payout ratio is currently 42.06%.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.