Microchip Technology Incorporated (MCHP) Stake Increased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,000 shares of the semiconductor company’s stock after buying an additional 25,000 shares during the quarter. Microchip Technology comprises 0.7% of Catalyst Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Catalyst Capital Advisors LLC owned 0.07% of Microchip Technology worth $15,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC increased its stake in Microchip Technology by 0.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,649 shares of the semiconductor company’s stock valued at $590,000 after purchasing an additional 68 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Microchip Technology by 6.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the semiconductor company’s stock valued at $1,096,000 after purchasing an additional 900 shares in the last quarter. Aperio Group LLC increased its stake in Microchip Technology by 25.0% in the 2nd quarter. Aperio Group LLC now owns 92,587 shares of the semiconductor company’s stock valued at $7,146,000 after purchasing an additional 18,533 shares in the last quarter. BTIM Corp. purchased a new position in Microchip Technology in the 2nd quarter valued at approximately $270,000. Finally, State Treasurer State of Michigan increased its stake in Microchip Technology by 6.1% in the 2nd quarter. State Treasurer State of Michigan now owns 75,372 shares of the semiconductor company’s stock valued at $5,817,000 after purchasing an additional 4,300 shares in the last quarter.

Shares of Microchip Technology Incorporated (MCHP) traded up $0.01 during trading on Monday, reaching $91.31. The company had a trading volume of 357,143 shares, compared to its average volume of 2,542,515. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92. The firm has a market capitalization of $21,250.00, a PE ratio of 19.34, a P/E/G ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. analysts predict that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 58.00%.

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Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, September 8th. Zacks Investment Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Thursday, October 12th. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Argus assumed coverage on Microchip Technology in a research report on Friday, October 6th. They set a “buy” rating and a $106.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Microchip Technology presently has a consensus rating of “Buy” and an average target price of $99.41.

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stephen V. Drehobl sold 3,076 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $251,893.64. Following the transaction, the vice president now owns 14,263 shares in the company, valued at approximately $1,167,997.07. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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

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