Markel Corp Purchases Shares of 8,000 Microchip Technology Incorporated (MCHP)

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.

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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