Gillespie Robinson & Grimm Inc. Takes $202,000 Position in Microchip Technology Inc. (MCHP)
Gillespie Robinson & Grimm Inc. bought a new stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,300 shares of the semiconductor company’s stock, valued at approximately $202,000.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Microchip Technology by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after purchasing an additional 1,042,622 shares in the last quarter. State Street Corp grew its stake in Microchip Technology by 0.7% in the 2nd quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock valued at $690,652,000 after acquiring an additional 58,577 shares during the period. Janus Henderson Group PLC grew its stake in 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 valued at $781,389,000 after acquiring an additional 630,311 shares during the period. Fred Alger Management Inc. grew its stake in Microchip Technology by 80.9% in the 2nd quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after acquiring an additional 1,497,699 shares during the period. Finally, Northern Trust Corp grew its stake in Microchip Technology by 1.8% in the 2nd quarter. Northern Trust Corp now owns 3,091,642 shares of the semiconductor company’s stock valued at $238,614,000 after acquiring an additional 53,227 shares during the period.
In other news, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $165,079.66. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Shares of Microchip Technology Inc. (MCHP) traded down $0.11 on Wednesday, reaching $92.51. 2,223,300 shares of the company’s stock traded hands, compared to its average volume of 1,766,300. Microchip Technology Inc. has a 52 week low of $64.12 and a 52 week high of $95.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The firm has a market cap of $21,110.00, a PE ratio of 37.00, a PEG ratio of 1.48 and a beta of 1.00.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. sell-side analysts predict that Microchip Technology Inc. will post 5.12 EPS for the current year.
A number of research firms recently issued reports on MCHP. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of Microchip Technology in a research note on Wednesday, September 20th. Piper Jaffray Companies began 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 on the stock. Needham & Company LLC lifted their price target on shares of Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 7th. ValuEngine cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Friday, January 5th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $101.24.
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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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