Gulf International Bank UK Ltd Has $3.81 Million Holdings in Microchip Technology Inc. (MCHP)

Gulf International Bank UK Ltd decreased its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 29.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,946 shares of the semiconductor company’s stock after selling 22,533 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Microchip Technology were worth $3,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Avitas Wealth Management LLC raised its position in shares of Microchip Technology by 8.9% in the 3rd quarter. Avitas Wealth Management LLC now owns 10,985 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 902 shares in the last quarter. Vanguard Group Inc raised its position in shares of Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after buying an additional 237,329 shares in the last quarter. IMS Capital Management acquired a new position in shares of Microchip Technology in the 3rd quarter valued at approximately $62,000. Plimoth Trust Co. LLC raised its position in shares of Microchip Technology by 3.8% in the 3rd quarter. Plimoth Trust Co. LLC now owns 26,488 shares of the semiconductor company’s stock valued at $2,091,000 after buying an additional 975 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Microchip Technology in the 3rd quarter valued at approximately $1,506,000.

MCHP opened at $77.13 on Friday. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $104.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 1.04. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.03. Microchip Technology had a net margin of 0.59% and a return on equity of 35.00%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Inc. will post 5.98 EPS for the current fiscal year.

In other Microchip Technology news, VP Stephen V. Drehobl sold 4,271 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total transaction of $307,768.26. Following the sale, the vice president now directly owns 17,173 shares of the company’s stock, valued at approximately $1,237,486.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 1,866 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $134,463.96. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Several equities analysts have recently commented on MCHP shares. Bank of America cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $115.00 to $95.00 in a research report on Monday, September 17th. ValuEngine cut shares of Microchip Technology from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. Cfra restated a “buy” rating and issued a $110.00 target price on shares of Microchip Technology in a research report on Wednesday, September 19th. BidaskClub lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Finally, KeyCorp initiated coverage on shares of Microchip Technology in a report on Tuesday, September 25th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $104.42.

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Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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