Hsbc Holdings PLC lifted its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 19.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334,090 shares of the semiconductor company’s stock after purchasing an additional 55,410 shares during the period. Hsbc Holdings PLC owned 0.14% of Microchip Technology worth $26,345,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MCHP. Pictet Asset Management Ltd. lifted its stake in shares of Microchip Technology by 163.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,158,240 shares of the semiconductor company’s stock valued at $249,217,000 after purchasing an additional 1,960,048 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at $114,767,000. Artisan Partners Limited Partnership acquired a new stake in shares of Microchip Technology in the 2nd quarter valued at $96,187,000. OppenheimerFunds Inc. lifted its stake in shares of Microchip Technology by 114.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,753,557 shares of the semiconductor company’s stock valued at $159,486,000 after purchasing an additional 935,884 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Microchip Technology by 1,900.4% in the 2nd quarter. Millennium Management LLC now owns 705,152 shares of the semiconductor company’s stock valued at $64,134,000 after purchasing an additional 669,901 shares during the last quarter.
In other news, CFO James Eric Bjornholt sold 1,866 shares of the business’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $72.06, for a total transaction of $134,463.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 4,271 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $307,768.26. Following the transaction, the vice president now owns 17,173 shares in the company, valued at approximately $1,237,486.38. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.03. Microchip Technology had a net margin of 0.59% and a return on equity of 35.00%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The business’s revenue was up 49.5% compared to the same quarter last year. On average, research analysts expect that Microchip Technology Inc. will post 5.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.3645 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.94%. Microchip Technology’s payout ratio is presently 28.13%.
Several research analysts recently commented on MCHP shares. Cfra reiterated a “buy” rating and issued a $110.00 target price on shares of Microchip Technology in a report on Wednesday, September 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Sunday, August 12th. Nomura dropped their target price on shares of Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, August 10th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Friday, October 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Buy” and an average target price of $104.42.
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Microchip Technology 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.
Further Reading: Return on Investment (ROI)
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