Microchip Technology Inc. (MCHP) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. raised its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,126 shares of the semiconductor company’s stock after buying an additional 150 shares during the quarter. Wrapmanager Inc.’s holdings in Microchip Technology were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. Norges Bank acquired a new stake in Microchip Technology in the 4th quarter valued at approximately $155,541,000. Oregon Public Employees Retirement Fund grew its holdings in Microchip Technology by 7,043.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 1,815,732 shares during the last quarter. Partner Fund Management L.P. acquired a new stake in Microchip Technology in the 4th quarter valued at approximately $74,257,000. TD Asset Management Inc. grew its holdings in Microchip Technology by 26.5% in the 4th quarter. TD Asset Management Inc. now owns 1,167,775 shares of the semiconductor company’s stock valued at $83,986,000 after buying an additional 244,680 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after buying an additional 237,329 shares during the last quarter.

Shares of MCHP stock traded down $0.98 during mid-day trading on Thursday, reaching $84.82. The stock had a trading volume of 69,546 shares, compared to its average volume of 2,918,915. The company has a current ratio of 0.93, a quick ratio of 0.63 and a debt-to-equity ratio of 1.69. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $104.20. The company has a market capitalization of $20.06 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.11 and a beta of 1.31.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The company’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS. Sell-side analysts predict that Microchip Technology Inc. will post 5.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $0.3655 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio (DPR) is 24.01%.

A number of analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 target price on shares of Microchip Technology in a report on Monday, May 6th. Cowen began coverage on Microchip Technology in a report on Friday, February 22nd. They issued a “market perform” rating and a $90.00 target price on the stock. Zacks Investment Research downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub upgraded Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. Finally, Citigroup reiterated a “buy” rating and issued a $105.00 price objective on shares of Microchip Technology in a research report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $104.32.

In related news, VP James Eric Bjornholt sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $89.24, for a total transaction of $210,249.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 4,660 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $91.04, for a total value of $424,246.40. Following the transaction, the director now owns 19,080 shares of the company’s stock, valued at approximately $1,737,043.20. The disclosure for this sale can be found here. Insiders have sold a total of 10,516 shares of company stock valued at $931,366 in the last 90 days. 2.13% of the stock is owned by corporate insiders.

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Microchip Technology Company 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.

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

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