Private Advisor Group LLC increased its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 78.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,945 shares of the semiconductor company’s stock after purchasing an additional 6,588 shares during the period. Private Advisor Group LLC’s holdings in Microchip Technology were worth $1,117,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MCHP. Vanguard Group Inc boosted its holdings in Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the period. Northern Trust Corp lifted its stake in Microchip Technology by 3.8% in the fourth quarter. Northern Trust Corp now owns 3,306,865 shares of the semiconductor company’s stock worth $237,828,000 after purchasing an additional 121,647 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Microchip Technology by 4.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock worth $227,564,000 after purchasing an additional 134,749 shares during the last quarter. Norges Bank purchased a new position in shares of Microchip Technology in the fourth quarter valued at about $155,541,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Microchip Technology by 7,043.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 1,815,732 shares during the period.
Several equities analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research report on Monday, May 6th. Cowen assumed coverage on shares of Microchip Technology in a research report on Friday, February 22nd. They set a “market perform” rating and a $90.00 price target on the stock. BidaskClub cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Zacks Investment Research cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, B. Riley boosted their price target on shares of Microchip Technology from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $103.61.
In other Microchip Technology news, VP James Eric Bjornholt sold 2,188 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.13% of the stock is currently owned by corporate insiders.
Shares of MCHP opened at $84.10 on Friday. The stock has a market capitalization of $19.94 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.63 and a current ratio of 0.93. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $103.27.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. As a group, equities analysts predict that Microchip Technology Inc. will post 5.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $0.3655 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Monday, May 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio is 24.01%.
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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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