Creative Planning Has $1.56 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)
Creative Planning boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 189.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,256 shares of the semiconductor company’s stock after buying an additional 13,263 shares during the period. Creative Planning’s holdings in Microchip Technology were worth $1,563,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. boosted its stake in Microchip Technology by 42.2% in the first quarter. Duncker Streett & Co. Inc. now owns 1,696 shares of the semiconductor company’s stock worth $125,000 after buying an additional 503 shares during the last quarter. Trust Co. of Vermont boosted its stake in Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock worth $125,000 after buying an additional 136 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Microchip Technology during the first quarter worth approximately $135,000. Webster Bank N. A. boosted its stake in Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock worth $146,000 after buying an additional 800 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Microchip Technology during the first quarter worth approximately $173,000.
Microchip Technology Incorporated (MCHP) opened at 80.84 on Monday. The firm has a 50-day moving average of $81.67 and a 200 day moving average of $73.61. The company has a market capitalization of $18.54 billion, a P/E ratio of 114.67 and a beta of 1.06. Microchip Technology Incorporated has a 52-week low of $53.33 and a 52-week high of $87.49.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.06 by $0.10. The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $891.14 million. Microchip Technology had a net margin of 4.83% and a return on equity of 31.64%. The business’s revenue for the quarter was up 61.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts predict that Microchip Technology Incorporated will post $4.96 earnings per share for the current fiscal year.
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MCHP has been the topic of a number of recent analyst reports. B. Riley reiterated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a report on Monday, May 8th. Stifel Nicolaus increased their price target on shares of Microchip Technology from $77.00 to $83.00 and gave the company a “buy” rating in a report on Friday, April 7th. Summit Redstone upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $82.00 in a report on Tuesday, April 4th. Citigroup Inc. set a $95.00 price target on shares of Microchip Technology and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $102.00 price target (up previously from $100.00) on shares of Microchip Technology in a report on Tuesday, June 6th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.25.
In related news, CFO James Eric Bjornholt sold 2,510 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 3,974 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total transaction of $319,072.46. Following the sale, the vice president now directly owns 14,263 shares in the company, valued at $1,145,176.27. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
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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