FDx Advisors Inc. lessened its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,983 shares of the semiconductor company’s stock after selling 4,717 shares during the quarter. FDx Advisors Inc.’s holdings in Microchip Technology were worth $541,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MCHP. Colony Group LLC boosted its holdings in Microchip Technology by 2.4% in the fourth quarter. Colony Group LLC now owns 4,738 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 109 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Microchip Technology by 0.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 17,685 shares of the semiconductor company’s stock worth $1,852,000 after purchasing an additional 112 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Microchip Technology by 0.3% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,903 shares of the semiconductor company’s stock worth $3,248,000 after buying an additional 124 shares in the last quarter. CSat Investment Advisory L.P. grew its position in Microchip Technology by 14.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 982 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 127 shares during the period. Finally, Greenleaf Trust raised its position in shares of Microchip Technology by 0.8% in the fourth quarter. Greenleaf Trust now owns 15,800 shares of the semiconductor company’s stock worth $1,655,000 after acquiring an additional 131 shares during the period.
In related news, CFO James Eric Bjornholt sold 2,000 shares of Microchip Technology stock in a transaction on Friday, June 5th. The shares were sold at an average price of $112.92, for a total value of $225,840.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard J. Simoncic sold 3,958 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $86.92, for a total transaction of $344,029.36. Following the completion of the transaction, the vice president now owns 19,213 shares in the company, valued at $1,669,993.96. The disclosure for this sale can be found here. Insiders have sold 26,336 shares of company stock valued at $2,684,160 in the last quarter. Insiders own 2.21% of the company’s stock.
A number of equities analysts have weighed in on MCHP shares. Loop Capital assumed coverage on shares of Microchip Technology in a research report on Friday, June 19th. They set a “buy” rating and a $120.00 price objective for the company. Vertical Group initiated coverage on Microchip Technology in a report on Tuesday, March 31st. They set a “buy” rating on the stock. TheStreet raised shares of Microchip Technology from a “c+” rating to a “b” rating in a report on Wednesday, June 3rd. SunTrust Banks upped their price objective on Microchip Technology from $94.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Wells Fargo & Co decreased their price target on Microchip Technology from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $112.56.
MCHP stock opened at $100.05 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $23.97 billion, a P/E ratio of 45.07, a PEG ratio of 1.30 and a beta of 1.61. The business has a 50 day simple moving average of $96.41 and a 200-day simple moving average of $93.36. Microchip Technology Inc. has a twelve month low of $53.15 and a twelve month high of $113.28.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Microchip Technology had a net margin of 10.82% and a return on equity of 23.63%. Microchip Technology’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 EPS. Research analysts predict that Microchip Technology Inc. will post 5.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, May 20th. Microchip Technology’s dividend payout ratio is presently 28.38%.
About Microchip Technology
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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
Featured Story: Does a trade war provide a risk to the global economy?
Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Inc. (NASDAQ:MCHP).
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.