MARSHALL WACE ASIA Ltd Takes Position in Microchip Technology Inc. (MCHP)

MARSHALL WACE ASIA Ltd acquired a new position in shares of Microchip Technology Inc. (NASDAQ:MCHP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 63,605 shares of the semiconductor company’s stock, valued at approximately $5,019,000.

Other large investors have also recently made changes to their positions in the company. M. Kraus & Co raised its holdings in Microchip Technology by 70.3% during the 3rd quarter. M. Kraus & Co now owns 43,995 shares of the semiconductor company’s stock worth $3,472,000 after purchasing an additional 18,160 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Microchip Technology in the 2nd quarter valued at about $34,037,000. BKD Wealth Advisors LLC increased its stake in shares of Microchip Technology by 4.5% in the 3rd quarter. BKD Wealth Advisors LLC now owns 45,917 shares of the semiconductor company’s stock valued at $3,623,000 after acquiring an additional 1,982 shares during the last quarter. Wealth Advisors of Tampa Bay LLC increased its stake in shares of Microchip Technology by 13.6% in the 3rd quarter. Wealth Advisors of Tampa Bay LLC now owns 56,984 shares of the semiconductor company’s stock valued at $4,496,000 after acquiring an additional 6,825 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Microchip Technology by 128.3% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 40,789 shares of the semiconductor company’s stock valued at $3,219,000 after acquiring an additional 22,923 shares during the last quarter.

In other news, VP Stephen V. Drehobl sold 4,271 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $307,768.26. Following the sale, the vice president now owns 17,173 shares in the company, valued at approximately $1,237,486.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,866 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total value of $134,463.96. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

MCHP has been the subject of a number of recent analyst reports. Cfra reaffirmed a “buy” rating and issued a $110.00 price target on shares of Microchip Technology in a research note on Wednesday, September 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Sunday, August 12th. Nomura lowered their price target on Microchip Technology from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, August 10th. BidaskClub raised Microchip Technology from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, October 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $104.42.

NASDAQ:MCHP traded down $1.08 during trading hours on Thursday, reaching $73.40. 3,238,200 shares of the stock were exchanged, compared to its average volume of 3,232,563. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $104.20. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.85. The company has a market cap of $17.62 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.28.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.03. Microchip Technology had a return on equity of 35.00% and a net margin of 0.59%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The business’s revenue was up 49.5% on a year-over-year basis. As a group, analysts anticipate that Microchip Technology Inc. will post 5.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Wednesday, November 21st were given a dividend of $0.3645 per share. The ex-dividend date was Tuesday, November 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.99%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is 28.13%.

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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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Further Reading: What is the Coverage Ratio?

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

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