Teachers Advisors LLC lessened its holdings in Microchip Technology (NASDAQ:MCHP) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 708,630 shares of the semiconductor company’s stock after selling 108,075 shares during the period. Teachers Advisors LLC owned approximately 0.30% of Microchip Technology worth $62,274,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Zions Bancorporation grew its position in Microchip Technology by 215.5% in the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 836 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in Microchip Technology during the third quarter valued at about $121,000. Valeo Financial Advisors LLC purchased a new stake in Microchip Technology during the third quarter valued at about $146,000. Twin Tree Management LP boosted its position in Microchip Technology by 126.2% during the fourth quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 10,646 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new stake in Microchip Technology during the fourth quarter valued at about $198,000.
Microchip Technology stock traded down $3.35 during trading hours on Friday, hitting $86.27. The company had a trading volume of 2,461,719 shares, compared to its average volume of 2,705,798. Microchip Technology has a 1 year low of $71.40 and a 1 year high of $101.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.33. The stock has a market cap of $20,216.77, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. research analysts expect that Microchip Technology will post 5.13 earnings per share for the current year.
Several equities analysts have recently commented on MCHP shares. Morgan Stanley upped their price objective on shares of Microchip Technology from $97.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Piper Jaffray started coverage on shares of Microchip Technology in a research note on Monday, December 18th. They issued an “overweight” rating and a $100.00 price target for the company. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Bank of America cut their price target 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. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $103.99.
In other news, VP Mitchell R. Little sold 4,159 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $1,326,635.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 2,109 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total transaction of $177,535.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,667 shares of company stock valued at $3,132,552. 2.13% of the stock is currently owned by company insiders.
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Microchip Technology Company Profile
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; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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