Disciplined Growth Investors Inc. MN Cuts Position in Microchip Technology Incorporated (MCHP)

Disciplined Growth Investors Inc. MN decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 943,460 shares of the semiconductor company’s stock after selling 11,200 shares during the period. Microchip Technology makes up about 1.8% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 21st largest position. Disciplined Growth Investors Inc. MN owned 0.40% of Microchip Technology worth $84,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its stake in shares of Microchip Technology by 2,959.9% during the second quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock valued at $623,093,000 after purchasing an additional 7,809,422 shares during the period. Principal Financial Group Inc. raised its stake in shares of Microchip Technology by 66.5% during the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after purchasing an additional 2,507,707 shares during the period. Fred Alger Management Inc. raised its stake in shares of Microchip Technology by 80.9% during the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after purchasing an additional 1,497,699 shares during the period. Vanguard Group Inc. raised its stake in shares of Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after purchasing an additional 1,042,622 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Microchip Technology by 75.5% during the second quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock valued at $185,475,000 after purchasing an additional 1,033,992 shares during the period.

A number of research firms have recently issued reports on MCHP. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 7th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Tuesday, November 7th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (up previously from $94.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. B. Riley reiterated a “buy” rating and set a $123.00 price objective (up previously from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, Jefferies Group lifted their price objective on shares of Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Five 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 has a consensus rating of “Buy” and a consensus price target of $99.41.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at $87.41 on Monday. Microchip Technology Incorporated has a 1 year low of $62.21 and a 1 year high of $95.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The firm has a market cap of $20,445.67, a P/E ratio of 18.52, a PEG ratio of 1.40 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. research analysts expect that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were issued a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 58.00%.

In other Microchip Technology news, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the transaction, the vice president now owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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About Microchip Technology

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

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