Microchip Technology Incorporated (MCHP) Shares Bought by Girard Partners LTD.
Girard Partners LTD. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,731 shares of the semiconductor company’s stock after buying an additional 33 shares during the period. Girard Partners LTD.’s holdings in Microchip Technology were worth $288,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its position in shares of Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after buying an additional 190 shares during the period. Trust Co. of Vermont raised its position in shares of Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock worth $125,000 after buying an additional 136 shares during the period. Smithfield Trust Co. raised its position in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after buying an additional 7 shares during the period. Advisory Services Network LLC acquired a new position in shares of Microchip Technology during the first quarter worth approximately $135,000. Finally, Webster Bank N. A. raised its position in shares of Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock worth $146,000 after buying an additional 800 shares during the period. Institutional investors own 98.67% of the company’s stock.
Shares of Microchip Technology Incorporated (MCHP) opened at 83.76 on Tuesday. The firm has a 50-day moving average price of $81.68 and a 200-day moving average price of $77.85. The company has a market capitalization of $19.49 billion, a PE ratio of 45.13 and a beta of 1.06. Microchip Technology Incorporated has a 12 month low of $57.52 and a 12 month high of $87.49.
Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, equities research analysts predict that Microchip Technology Incorporated will post $5.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be given a dividend of $0.362 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.45 annualized dividend and a dividend yield of 1.73%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 77.54%.
MCHP has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a report on Monday, May 8th. Citigroup Inc. set a $95.00 price target on Microchip Technology and gave the stock a “buy” rating in a report on Wednesday, May 10th. Stifel Nicolaus upped their price target on Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Rosenblatt Securities reiterated a “buy” rating and set a $102.00 price target (up from $100.00) on shares of Microchip Technology in a report on Tuesday, June 6th. Finally, BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Microchip Technology presently has an average rating of “Buy” and a consensus target price of $88.80.
In related news, CFO James Eric Bjornholt sold 2,453 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $200,876.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Stephen V. Drehobl sold 3,076 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $251,893.64. Following the completion of the sale, 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. In the last 90 days, insiders have sold 6,829 shares of company stock worth $561,905. Company 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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