Machina Capital S.A.S. Buys Shares of 11,576 Microchip Technology Incorporated $MCHP

Machina Capital S.A.S. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,576 shares of the semiconductor company’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MCHP. Norges Bank acquired a new stake in Microchip Technology in the 2nd quarter valued at approximately $473,320,000. Dodge & Cox grew its stake in shares of Microchip Technology by 958.4% in the second quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock valued at $446,132,000 after buying an additional 5,740,827 shares in the last quarter. Boston Partners raised its holdings in shares of Microchip Technology by 38.2% in the 2nd quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock valued at $1,041,868,000 after buying an additional 4,101,034 shares during the period. State Street Corp raised its holdings in shares of Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after buying an additional 2,489,258 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Microchip Technology by 582.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,154,164 shares of the semiconductor company’s stock valued at $151,589,000 after acquiring an additional 1,838,300 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $78.23 on Thursday. The company has a market cap of $42.28 billion, a P/E ratio of -173.84, a PEG ratio of 1.96 and a beta of 1.46. The firm has a fifty day moving average price of $69.03 and a 200 day moving average price of $65.49. The company has a current ratio of 2.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $81.43.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.Microchip Technology’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,292 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the sale, the chief financial officer owned 30,089 shares in the company, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the completion of the transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. The trade was a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 121,615 shares of company stock valued at $9,641,654. 1.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCHP has been the topic of a number of recent research reports. Stifel Nicolaus set a $80.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 target price on shares of Microchip Technology in a report on Tuesday, January 6th. UBS Group boosted their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Susquehanna upped their price objective on Microchip Technology from $75.00 to $90.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Microchip Technology in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.73.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.