Rockline Wealth Management LLC Buys 2,606 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Rockline Wealth Management LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,769 shares of the semiconductor company’s stock after purchasing an additional 2,606 shares during the period. Rockline Wealth Management LLC’s holdings in Microchip Technology were worth $3,141,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth $29,000. Financial Life Planners acquired a new position in Microchip Technology during the fourth quarter worth about $32,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology in the third quarter worth about $34,000. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $52.26 on Tuesday. The firm’s fifty day moving average price is $59.29 and its two-hundred day moving average price is $71.03. The company has a market capitalization of $28.06 billion, a price-to-earnings ratio of 36.55 and a beta of 1.50. 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 $51.37 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate 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 net margin of 14.22% and a return on equity of 19.47%. The company’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MCHP shares. Jefferies Financial Group dropped their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Piper Sandler cut their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. TD Cowen lowered their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. B. Riley cut their price target on Microchip Technology from $93.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Stifel Nicolaus lowered their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.00.

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.