DE Burlo Group Inc. lessened its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 61.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,033 shares of the semiconductor company’s stock after selling 103,300 shares during the quarter. DE Burlo Group Inc.’s holdings in Microchip Technology were worth $5,715,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MCHP. Atlantic Trust Group LLC raised its holdings in Microchip Technology by 255.3% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock valued at $124,014,000 after acquiring an additional 992,572 shares during the period. TimesSquare Capital Management LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $72,300,000. Janus Henderson Group PLC increased its holdings in shares of Microchip Technology by 7.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock worth $781,389,000 after buying an additional 630,311 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Microchip Technology by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,891,973 shares of the semiconductor company’s stock worth $259,643,000 after buying an additional 488,832 shares during the last quarter. Finally, State Treasurer State of Michigan increased its holdings in shares of Microchip Technology by 471.3% in the 3rd quarter. State Treasurer State of Michigan now owns 430,572 shares of the semiconductor company’s stock worth $38,657,000 after buying an additional 355,200 shares during the last quarter.
A number of research firms have recently weighed in on MCHP. Argus restated a “buy” rating and issued a $90.00 target price (up from $79.90) on shares of Microchip Technology in a report on Friday, February 9th. Morgan Stanley reduced their target price on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Bank of America reduced their target price on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. B. Riley restated 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, Stifel Nicolaus restated 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. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $102.35.
Microchip Technology Inc. (MCHP) traded up $1.45 during mid-day trading on Wednesday, hitting $84.86. 4,026,500 shares of the company were exchanged, compared to its average volume of 3,119,816. Microchip Technology Inc. has a 52-week low of $71.40 and a 52-week high of $99.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.33 and a current ratio of 2.98. The stock has a market cap of $19,546.56, a PE ratio of 86.56, a PEG ratio of 1.12 and a beta of 1.05.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. During the same period in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. equities research analysts predict that Microchip Technology Inc. will post 5.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st will be given a $0.363 dividend. This represents a $1.45 annualized dividend and a yield of 1.71%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, February 20th. Microchip Technology’s payout ratio is 149.49%.
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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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