Advantus Capital Management Inc raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,555 shares of the semiconductor company’s stock after purchasing an additional 587 shares during the quarter. Advantus Capital Management Inc owned 10,121.61% of Microchip Technology worth $2,115,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MCHP. AQR Capital Management LLC grew its stake in shares of Microchip Technology by 27.4% during the 1st quarter. AQR Capital Management LLC now owns 93,278 shares of the semiconductor company’s stock valued at $6,882,000 after purchasing an additional 20,055 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Microchip Technology during the 1st quarter valued at about $359,000. Fox Run Management L.L.C. purchased a new position in shares of Microchip Technology during the 2nd quarter valued at about $332,000. Bank of Montreal Can lifted its position in shares of Microchip Technology by 21.7% during the 2nd quarter. Bank of Montreal Can now owns 371,920 shares of the semiconductor company’s stock valued at $28,704,000 after buying an additional 66,199 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Microchip Technology by 9.2% during the 2nd quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 136 shares in the last quarter.
In other Microchip Technology news, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology 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 sale, the vice president now owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology 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 $200,876.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,829 shares of company stock worth $561,905. Corporate insiders own 2.13% of the company’s stock.
Microchip Technology Incorporated (NASDAQ:MCHP) traded up $0.75 during trading hours on Friday, reaching $91.56. The company’s stock had a trading volume of 1,823,941 shares, compared to its average volume of 1,999,192. The company has a current ratio of 3.33, a quick ratio of 2.54 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 1-year low of $60.77 and a 1-year high of $95.92. The company has a market cap of $21,240.95, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. equities research analysts expect that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a $0.3625 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 20th. This represents a $1.45 dividend on an annualized basis and a yield of 1.58%. Microchip Technology’s payout ratio is presently 58.00%.
MCHP has been the topic of a number of analyst reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Friday. BidaskClub cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC lifted their price objective on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Tuesday. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $99.41.
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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