DE Burlo Group Inc. reduced its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 61.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,033 shares of the semiconductor company’s stock after selling 103,300 shares during the period. DE Burlo Group Inc.’s holdings in Microchip Technology were worth $5,715,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation boosted its holdings in Microchip Technology by 215.5% in the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 836 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in Microchip Technology in the third quarter valued at approximately $121,000. Valeo Financial Advisors LLC bought a new stake in Microchip Technology in the third quarter valued at approximately $146,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Microchip Technology by 608.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $189,000 after acquiring an additional 1,807 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Microchip Technology in the fourth quarter valued at approximately $198,000.
Microchip Technology Inc. (NASDAQ MCHP) opened at $80.81 on Wednesday. Microchip Technology Inc. has a 12 month low of $70.18 and a 12 month high of $99.17. The company has a quick ratio of 2.33, a current ratio of 2.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $18,940.00, a P/E ratio of 83.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The firm had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. During the same period in the previous year, the firm earned $1.05 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. equities research analysts anticipate that Microchip Technology Inc. will post 5.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st will be paid a $0.363 dividend. The ex-dividend date is Tuesday, February 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.80%. Microchip Technology’s payout ratio is 149.48%.
In other news, CFO James Eric Bjornholt sold 1,801 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stephen V. Drehobl sold 2,852 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.
Several analysts recently commented on MCHP shares. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price (up from $94.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Friday, November 10th. Jefferies Group upped their target price on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. B. Riley reiterated a “buy” rating and issued a $123.00 target price (up from $120.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Finally, BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $102.35.
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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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