Microchip Technology Inc. (MCHP) Shares Sold by Global Financial Private Capital LLC

Share on StockTwits

Global Financial Private Capital LLC reduced its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,529 shares of the semiconductor company’s stock after selling 1,174 shares during the period. Global Financial Private Capital LLC’s holdings in Microchip Technology were worth $2,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Townsend & Associates Inc lifted its holdings in Microchip Technology by 6.1% during the 2nd quarter. Townsend & Associates Inc now owns 9,413 shares of the semiconductor company’s stock worth $856,000 after buying an additional 539 shares during the last quarter. Capital Analysts LLC lifted its holdings in Microchip Technology by 1.6% during the 2nd quarter. Capital Analysts LLC now owns 34,565 shares of the semiconductor company’s stock worth $3,144,000 after buying an additional 543 shares during the last quarter. Stephens Inc. AR lifted its holdings in Microchip Technology by 3.3% during the 2nd quarter. Stephens Inc. AR now owns 18,796 shares of the semiconductor company’s stock worth $1,710,000 after buying an additional 600 shares during the last quarter. Sigma Planning Corp lifted its holdings in Microchip Technology by 12.9% during the 2nd quarter. Sigma Planning Corp now owns 5,528 shares of the semiconductor company’s stock worth $503,000 after buying an additional 631 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in Microchip Technology by 9.5% during the 2nd quarter. CIBC World Markets Inc. now owns 7,361 shares of the semiconductor company’s stock worth $669,000 after buying an additional 638 shares during the last quarter.

A number of brokerages have issued reports on MCHP. Jefferies Financial Group decreased their price target on Microchip Technology from $115.00 to $102.00 and set a “buy” rating for the company in a report on Thursday. Nomura set a $95.00 price target on Microchip Technology and gave the stock a “buy” rating in a report on Thursday. B. Riley decreased their price target on Microchip Technology from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Bank of America decreased their price target on Microchip Technology from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Piper Jaffray Companies set a $130.00 price target on Microchip Technology and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Microchip Technology has an average rating of “Hold” and an average target price of $105.11.

In related news, CFO James Eric Bjornholt sold 1,887 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total value of $159,130.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stephen V. Drehobl sold 3,998 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total value of $337,151.34. Following the completion of the transaction, the vice president now owns 16,931 shares in the company, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

MCHP opened at $72.13 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.80 and a current ratio of 1.04. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $104.20. The stock has a market cap of $17.61 billion, a PE ratio of 12.77, a PEG ratio of 0.82 and a beta of 1.24.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.03. Microchip Technology had a return on equity of 35.00% and a net margin of 0.59%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 49.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Microchip Technology Inc. will post 6.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.3645 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 28.13%.

TRADEMARK VIOLATION WARNING: “Microchip Technology Inc. (MCHP) Shares Sold by Global Financial Private Capital LLC” was first published by Macon Daily and is the property of of Macon Daily. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://macondaily.com/2018/11/11/microchip-technology-inc-mchp-shares-sold-by-global-financial-private-capital-llc.html.

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.

Read More: Understanding Relative Strength Index

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

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply