Pinnacle Financial Partners Inc. Sells 3,184 Shares of Microchip Technology Incorporated (MCHP)
Pinnacle Financial Partners Inc. lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,763 shares of the semiconductor company’s stock after selling 3,184 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Microchip Technology were worth $2,852,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in Microchip Technology by 0.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,649 shares of the semiconductor company’s stock valued at $590,000 after buying an additional 68 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Microchip Technology by 6.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the semiconductor company’s stock valued at $1,096,000 after buying an additional 900 shares in the last quarter. Aperio Group LLC boosted its stake in Microchip Technology by 25.0% in the 2nd quarter. Aperio Group LLC now owns 92,587 shares of the semiconductor company’s stock valued at $7,146,000 after buying an additional 18,533 shares in the last quarter. BTIM Corp. acquired a new stake in Microchip Technology in the 2nd quarter valued at $270,000. Finally, BB&T Corp boosted its stake in Microchip Technology by 40.2% in the 2nd quarter. BB&T Corp now owns 48,721 shares of the semiconductor company’s stock valued at $3,760,000 after buying an additional 13,971 shares in the last quarter.
Microchip Technology Incorporated (NASDAQ MCHP) traded up $0.09 during mid-day trading on Tuesday, hitting $91.39. The stock had a trading volume of 1,460,400 shares, compared to its average volume of 2,537,684. The company has a market capitalization of $21,270.00, a P/E ratio of 19.34, a P/E/G ratio of 1.46 and a beta of 1.05. Microchip Technology Incorporated has a 12 month low of $60.77 and a 12 month high of $95.92. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. analysts predict that Microchip Technology Incorporated will post 5.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be issued a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 58.00%.
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Several analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Friday, August 4th. Mizuho reaffirmed a “neutral” rating and issued a $84.00 price target (up previously from $80.00) on shares of Microchip Technology in a research note on Wednesday, August 9th. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price objective (up previously from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.41.
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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