Aperio Group LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,618 shares of the semiconductor company’s stock after acquiring an additional 12,031 shares during the period. Aperio Group LLC’s holdings in Microchip Technology were worth $9,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of MCHP. AQR Capital Management LLC grew its position in shares of Microchip Technology by 27.4% during the 1st quarter. AQR Capital Management LLC now owns 93,278 shares of the semiconductor company’s stock valued at $6,882,000 after acquiring an additional 20,055 shares during the period. Tudor Investment Corp ET AL bought a new position in Microchip Technology in the 1st quarter worth $359,000. Public Employees Retirement System of Ohio boosted its holdings in Microchip Technology by 7.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 260,692 shares of the semiconductor company’s stock worth $19,234,000 after buying an additional 18,525 shares during the period. DnB Asset Management AS boosted its holdings in Microchip Technology by 2.7% in the 2nd quarter. DnB Asset Management AS now owns 22,546 shares of the semiconductor company’s stock worth $1,740,000 after buying an additional 600 shares during the period. Finally, Handelsbanken Fonder AB bought a new position in Microchip Technology in the 2nd quarter worth $5,897,000.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The business had revenue of $972.10 million for the quarter, compared to analyst estimates of $944.87 million. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year.
In other news, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,829 shares of company stock worth $561,905. Company insiders own 2.13% of the company’s stock.
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MCHP has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, September 8th. BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of 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 issued a $94.00 target price on shares of Microchip Technology in a report on Wednesday, September 20th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $91.59.
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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