Stephens Inc. AR raised its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,796 shares of the semiconductor company’s stock after buying an additional 600 shares during the quarter. Stephens Inc. AR’s holdings in Microchip Technology were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Psagot Investment House Ltd. purchased a new position in shares of Microchip Technology in the second quarter valued at $125,000. Canada Pension Plan Investment Board grew its holdings in shares of Microchip Technology by 14,030.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 1,403 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Microchip Technology in the first quarter valued at $131,000. Summit Trail Advisors LLC grew its holdings in shares of Microchip Technology by 9,097.1% in the first quarter. Summit Trail Advisors LLC now owns 138,325 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 136,821 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of Microchip Technology in the second quarter valued at $200,000.
In other news, CFO James Eric Bjornholt sold 1,887 shares of Microchip Technology stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $159,130.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 3,998 shares of Microchip Technology stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total value of $337,151.34. Following the sale, the vice president now owns 16,931 shares of the company’s stock, valued at $1,427,791.23. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on MCHP. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Wednesday, June 6th. Rosenblatt Securities reissued a “buy” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Wednesday, June 6th. JPMorgan Chase & Co. began coverage on shares of Microchip Technology in a report on Tuesday, June 5th. They issued an “overweight” rating and a $125.00 target price for the company. Morgan Stanley raised their target price on shares of Microchip Technology from $97.00 to $103.00 and gave the company an “equal weight” rating in a report on Tuesday, June 5th. Finally, SunTrust Banks raised their target price on shares of Microchip Technology from $115.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $115.76.
NASDAQ MCHP opened at $84.65 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 1.96. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.90 and a beta of 1.09. Microchip Technology Inc. has a 52 week low of $78.33 and a 52 week high of $104.20.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.48 by $0.13. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. Microchip Technology’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. analysts predict that Microchip Technology Inc. will post 6.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Tuesday, August 21st were paid a dividend of $0.364 per share. This represents a $1.46 annualized dividend and a yield of 1.72%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, August 20th. Microchip Technology’s payout ratio is presently 28.13%.
About Microchip Technology
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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