Stephens Investment Management Group LLC grew its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 440,241 shares of the semiconductor company’s stock after acquiring an additional 5,532 shares during the period. Stephens Investment Management Group LLC owned 0.18% of Microchip Technology worth $38,169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. City Holding Co. raised its position in Microchip Technology by 1.9% in the first quarter. City Holding Co. now owns 43,610 shares of the semiconductor company’s stock worth $3,618,000 after acquiring an additional 801 shares during the period. Advisory Services Network LLC raised its position in shares of Microchip Technology by 42.8% during the 1st quarter. Advisory Services Network LLC now owns 3,068 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 920 shares during the period. Enlightenment Research LLC raised its position in shares of Microchip Technology by 316.7% during the 1st quarter. Enlightenment Research LLC now owns 2,500 shares of the semiconductor company’s stock valued at $207,000 after purchasing an additional 1,900 shares during the period. Hallmark Capital Management Inc. raised its position in shares of Microchip Technology by 1.5% during the 1st quarter. Hallmark Capital Management Inc. now owns 206,641 shares of the semiconductor company’s stock valued at $17,143,000 after purchasing an additional 3,130 shares during the period. Finally, South Dakota Investment Council raised its position in shares of Microchip Technology by 20.9% during the 1st quarter. South Dakota Investment Council now owns 5,200 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 900 shares during the period.
In other Microchip Technology news, VP James Eric Bjornholt sold 2,188 shares of Microchip Technology stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.21% of the company’s stock.
Several analysts have recently commented on MCHP shares. Longbow Research started coverage on shares of Microchip Technology in a research report on Tuesday, July 9th. They set a “neutral” rating and a $87.93 price objective on the stock. Mizuho raised their price objective on shares of Microchip Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price objective on shares of Microchip Technology in a research report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research report on Thursday, July 25th. Finally, B. Riley raised their price objective on shares of Microchip Technology from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Microchip Technology has a consensus rating of “Hold” and an average target price of $101.76.
NASDAQ MCHP traded up $0.43 on Thursday, reaching $87.34. The company had a trading volume of 27,461 shares, compared to its average volume of 2,368,169. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.93 and a quick ratio of 0.63. The stock has a market cap of $20.78 billion, a PE ratio of 14.38, a PEG ratio of 1.34 and a beta of 1.41. The stock’s 50 day moving average is $90.86. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $101.35.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.16. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. Microchip Technology’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. Equities research analysts expect that Microchip Technology Inc. will post 5.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a $0.366 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, August 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 24.01%.
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.
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