Wolverine Asset Management LLC grew its position in shares of Microchip Technology (NASDAQ:MCHP) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,164 shares of the semiconductor company’s stock after purchasing an additional 2,700 shares during the period. Wolverine Asset Management LLC’s holdings in Microchip Technology were worth $2,211,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Janus Henderson Group PLC raised its stake in Microchip Technology by 7.8% in the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock worth $781,389,000 after buying an additional 630,311 shares in the last quarter. Aristotle Capital Management LLC grew its holdings in Microchip Technology by 5.6% in the fourth quarter. Aristotle Capital Management LLC now owns 4,816,895 shares of the semiconductor company’s stock worth $423,309,000 after purchasing an additional 257,166 shares during the period. Ameriprise Financial Inc. grew its holdings in Microchip Technology by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,891,973 shares of the semiconductor company’s stock worth $259,643,000 after purchasing an additional 488,832 shares during the period. Alkeon Capital Management LLC grew its holdings in Microchip Technology by 0.5% in the third quarter. Alkeon Capital Management LLC now owns 2,052,707 shares of the semiconductor company’s stock worth $184,292,000 after purchasing an additional 10,000 shares during the period. Finally, Atlantic Trust Group LLC grew its holdings in shares of Microchip Technology by 255.3% during the third quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock valued at $124,014,000 after buying an additional 992,572 shares during the last quarter.
A number of equities research analysts have recently commented on MCHP shares. SunTrust Banks upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Microchip Technology in a report on Friday, March 2nd. Bank of America decreased their price target on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Morgan Stanley increased their price target on shares of Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Stifel Nicolaus restated an “average” rating and set a $112.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 6th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $103.04.
NASDAQ:MCHP traded down $3.73 during trading hours on Monday, hitting $87.63. 4,357,279 shares of the company were exchanged, compared to its average volume of 3,295,804. The company has a market cap of $21,409.59, a PE ratio of 24.07, a P/E/G ratio of 1.22 and a beta of 1.06. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95. Microchip Technology has a 52-week low of $71.40 and a 52-week high of $101.48.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The business had revenue of $994.10 million for the quarter, compared to the consensus estimate of $992.10 million. During the same period in the prior year, the firm earned $1.05 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. analysts expect that Microchip Technology will post 5.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.363 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a yield of 1.66%. Microchip Technology’s dividend payout ratio is currently 39.84%.
In other Microchip Technology news, VP Mitchell R. Little sold 4,159 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total transaction of $349,938.26. Following the completion of the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,326,635.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wade F. Meyercord sold 5,000 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $94.92, for a total transaction of $474,600.00. Following the completion of the sale, the director now owns 29,469 shares of the company’s stock, valued at $2,797,197.48. The disclosure for this sale can be found here. Insiders have sold 33,667 shares of company stock valued at $3,132,552 over the last 90 days. 2.13% of the stock is currently owned by company insiders.
Microchip Technology Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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