Rhumbline Advisers Grows Holdings in Microchip Technology Incorporated (MCHP)
Rhumbline Advisers boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,564 shares of the semiconductor company’s stock after purchasing an additional 7,541 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Microchip Technology worth $37,848,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in Microchip Technology by 2,959.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock worth $623,093,000 after buying an additional 7,809,422 shares during the period. Principal Financial Group Inc. grew its stake in shares of Microchip Technology by 66.5% in the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after buying an additional 2,507,707 shares in the last quarter. Fred Alger Management Inc. boosted its position in Microchip Technology by 80.9% during the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after purchasing an additional 1,497,699 shares during the period. Vanguard Group Inc. boosted its position in Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after purchasing an additional 1,042,622 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Microchip Technology by 75.5% during the second quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after purchasing an additional 1,033,992 shares during the period.
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A number of research analysts recently commented on MCHP shares. BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. B. Riley restated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Microchip Technology in a research note on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $99.41.
Shares of Microchip Technology Incorporated (MCHP) opened at $90.78 on Friday. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92. The company has a market capitalization of $20,955.58, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The business’s revenue was up 16.2% on a year-over-year basis. equities research analysts expect that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 20th. This represents a $1.45 annualized dividend and a dividend yield of 1.60%. Microchip Technology’s dividend payout ratio is presently 58.00%.
In related news, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 3,076 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $251,893.64. Following the transaction, the vice president now directly owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
Microchip Technology 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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