Ancora Advisors LLC increased its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 32.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,719 shares of the semiconductor company’s stock after buying an additional 4,850 shares during the period. Ancora Advisors LLC’s holdings in Microchip Technology were worth $1,556,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Ltd. lifted its holdings in Microchip Technology by 163.6% during the third quarter. Pictet Asset Management Ltd. now owns 3,158,240 shares of the semiconductor company’s stock valued at $249,217,000 after purchasing an additional 1,960,048 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Microchip Technology during the third quarter valued at $114,767,000. Artisan Partners Limited Partnership purchased a new position in Microchip Technology during the second quarter valued at $96,187,000. OppenheimerFunds Inc. lifted its holdings in Microchip Technology by 114.5% during the second quarter. OppenheimerFunds Inc. now owns 1,753,557 shares of the semiconductor company’s stock valued at $159,486,000 after purchasing an additional 935,884 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Microchip Technology by 1,900.4% during the second quarter. Millennium Management LLC now owns 705,152 shares of the semiconductor company’s stock valued at $64,134,000 after purchasing an additional 669,901 shares in the last quarter.
In related news, CFO James Eric Bjornholt sold 1,866 shares of the firm’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $72.06, for a total transaction of $134,463.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen V. Drehobl sold 4,271 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $307,768.26. Following the sale, the vice president now owns 17,173 shares of the company’s stock, valued at $1,237,486.38. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
Several equities analysts have issued reports on the stock. Nomura decreased their price objective on shares of Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, August 10th. BidaskClub downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. TheStreet downgraded shares of Microchip Technology from an “a-” rating to a “c+” rating in a report on Thursday, August 9th. Needham & Company LLC decreased their price objective on shares of Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Monday, August 13th. Finally, ValuEngine downgraded shares of Microchip Technology from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Microchip Technology has an average rating of “Buy” and an average price target of $104.42.
NASDAQ:MCHP opened at $75.00 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $17.74 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $104.20.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.03. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Microchip Technology had a net margin of 0.59% and a return on equity of 35.00%. The company’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. On average, research analysts anticipate that Microchip Technology Inc. will post 5.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be paid a $0.3645 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 28.13%.
Microchip Technology Company 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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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