Andra AP fonden reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,300 shares of the semiconductor company’s stock after selling 800 shares during the period. Andra AP fonden’s holdings in Microchip Technology were worth $1,284,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new stake in shares of Microchip Technology in the first quarter valued at about $359,000. Fox Run Management L.L.C. bought a new stake in shares of Microchip Technology in the second quarter valued at about $332,000. Bank of Montreal Can lifted its position in Microchip Technology by 21.7% during the second quarter. Bank of Montreal Can now owns 371,920 shares of the semiconductor company’s stock worth $28,704,000 after purchasing an additional 66,199 shares during the period. Creative Planning lifted its position in Microchip Technology by 189.7% during the second quarter. Creative Planning now owns 20,256 shares of the semiconductor company’s stock worth $1,563,000 after purchasing an additional 13,263 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its position in Microchip Technology by 505.9% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,906 shares of the semiconductor company’s stock worth $2,694,000 after purchasing an additional 29,145 shares during the period.
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Several equities research analysts recently weighed in on MCHP shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $106.00 price objective on shares of Microchip Technology in a research report on Thursday, October 19th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Thursday, October 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective on shares of Microchip Technology in a research report on Wednesday, September 20th. Argus started coverage on shares of Microchip Technology in a research report on Friday, October 6th. They set a “buy” rating and a $106.00 price objective for the company. Finally, B. Riley reaffirmed a “buy” rating and set a $123.00 price objective (up previously from $120.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $99.41.
Shares of Microchip Technology Incorporated (MCHP) opened at $91.02 on Tuesday. The firm has a market cap of $21,416.38, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. equities research analysts forecast that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 58.00%.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 3,076 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $251,893.64. Following the transaction, the vice president now owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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