Markel Corp purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,000 shares of the semiconductor company’s stock, valued at approximately $718,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Microchip Technology by 66.5% during the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after buying an additional 2,507,707 shares during the last quarter. Nicolet Bankshares Inc. lifted its holdings in Microchip Technology by 0.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock worth $281,000 after buying an additional 11 shares during the last quarter. 361 Capital LLC lifted its holdings in Microchip Technology by 35.3% during the 2nd quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock worth $3,769,000 after buying an additional 12,730 shares during the last quarter. Fox Run Management L.L.C. lifted its holdings in Microchip Technology by 248.8% during the 3rd quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock worth $1,347,000 after buying an additional 10,700 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in Microchip Technology by 13.2% during the 2nd quarter. Norinchukin Bank The now owns 15,920 shares of the semiconductor company’s stock worth $1,229,000 after buying an additional 1,857 shares during the last quarter.
Shares of Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.02% during trading on Tuesday, reaching $95.19. The company had a trading volume of 503,752 shares. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 51.29 and a beta of 1.07. The stock has a 50 day moving average of $90.93 and a 200 day moving average of $83.45. Microchip Technology Incorporated has a 52-week low of $59.38 and a 52-week high of $95.69.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The firm had revenue of $972.10 million during the quarter, compared to analyst estimates of $944.87 million. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue was up 21.6% on a year-over-year basis. Equities research analysts forecast that Microchip Technology Incorporated will post $5.28 EPS for the current year.
MCHP has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, September 8th. BidaskClub raised Microchip Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Microchip Technology in a report on Monday, July 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price target on shares of Microchip Technology in a report on Wednesday, September 20th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Microchip Technology has a consensus rating of “Buy” and an average price target of $91.59.
In related news, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen V. Drehobl sold 3,076 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The disclosure for this sale can be found here. Insiders sold a total of 6,829 shares of company stock valued at $561,905 in the last ninety days. Company insiders own 2.13% of the company’s stock.
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Microchip Technology Company Profile
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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