Aperio Group LLC Buys 749 Shares of Microchip Technology Inc. (MCHP)
Aperio Group LLC increased its position in Microchip Technology Inc. (NASDAQ:MCHP) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,537 shares of the company’s stock after buying an additional 749 shares during the period. Aperio Group LLC’s holdings in Microchip Technology were worth $4,942,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC increased its stake in shares of Microchip Technology by 6.0% in the first quarter. Nuveen Asset Management LLC now owns 26,922 shares of the company’s stock worth $1,297,000 after buying an additional 1,524 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Microchip Technology by 13.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,300 shares of the company’s stock worth $641,000 after buying an additional 1,560 shares during the last quarter. Boltwood Capital Management increased its stake in shares of Microchip Technology by 3.1% in the second quarter. Boltwood Capital Management now owns 24,315 shares of the company’s stock worth $1,234,000 after buying an additional 735 shares during the last quarter. Cullinan Associates Inc. bought a new stake in shares of Microchip Technology during the second quarter worth approximately $1,074,000. Finally, Swarthmore Group Inc. bought a new stake in shares of Microchip Technology during the second quarter worth approximately $412,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.
Microchip Technology Inc. (NASDAQ:MCHP) traded up 0.20% on Tuesday, hitting $66.03. The stock had a trading volume of 1,935,302 shares. The company’s 50-day moving average price is $61.91 and its 200 day moving average price is $57.41. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 287.09 and a beta of 1.04. Microchip Technology Inc. has a one year low of $39.01 and a one year high of $66.81.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The company earned $873.80 million during the quarter, compared to the consensus estimate of $860.96 million. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. Microchip Technology’s revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. Analysts expect that Microchip Technology Inc. will post $3.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be issued a $0.3605 dividend. The ex-dividend date is Thursday, November 17th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.44 annualized dividend and a yield of 2.18%. Microchip Technology’s payout ratio is 720.00%.
MCHP has been the subject of a number of analyst reports. Mizuho initiated coverage on Microchip Technology in a report on Friday, September 30th. They issued a “neutral” rating and a $67.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target (up previously from $70.00) on shares of Microchip Technology in a report on Tuesday, November 8th. Bank of America Corp. raised Microchip Technology from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price target (up previously from $68.00) on shares of Microchip Technology in a report on Thursday, November 10th. Finally, Stifel Nicolaus upped their price target on Microchip Technology from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.61.
In other Microchip Technology news, CEO Steve Sanghi sold 26,308 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $64.20, for a total value of $1,688,973.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 2,043 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $65.16, for a total value of $133,121.88. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
About Microchip Technology
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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