Alliancebernstein L.P. Has $35.08 Million Position in Microchip Technology Incorporated (MCHP)
Alliancebernstein L.P. trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 454,527 shares of the semiconductor company’s stock after selling 39,631 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of Microchip Technology worth $35,080,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of MCHP. Principal Financial Group Inc. grew its position in Microchip Technology by 66.5% in the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after buying an additional 2,507,707 shares during the last quarter. Janus Capital Management LLC grew its position in Microchip Technology by 10.3% in the 1st quarter. Janus Capital Management LLC now owns 7,130,689 shares of the semiconductor company’s stock valued at $526,103,000 after buying an additional 666,436 shares during the last quarter. Waddell & Reed Financial Inc. grew its position in Microchip Technology by 11.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 6,290,257 shares of the semiconductor company’s stock valued at $464,095,000 after buying an additional 641,548 shares during the last quarter. Harbour Capital Advisors LLC grew its position in Microchip Technology by 26,055.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 612,037 shares of the semiconductor company’s stock valued at $7,930,000 after buying an additional 609,697 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Microchip Technology by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,579,936 shares of the semiconductor company’s stock valued at $1,665,948,000 after buying an additional 563,501 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Shares of Microchip Technology Incorporated (NASDAQ MCHP) opened at 89.62 on Monday. Microchip Technology Incorporated has a 52-week low of $57.52 and a 52-week high of $90.57. The company has a 50 day moving average of $84.24 and a 200 day moving average of $79.36. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 48.29 and a beta of 1.04.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The business had revenue of $972.10 million during the quarter, compared to analysts’ expectations of $944.87 million. During the same quarter last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. Analysts predict that Microchip Technology Incorporated will post $5.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a dividend of $0.362 per share. The ex-dividend date was Thursday, August 17th. This represents a $1.45 annualized dividend and a yield of 1.62%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 77.54%.
MCHP has been the topic of a number of analyst reports. ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. B. Riley reiterated a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a research report on Tuesday, June 6th. Stifel Nicolaus lifted their price objective on shares of Microchip Technology from $88.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, June 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $102.00 price objective (up from $100.00) on shares of Microchip Technology in a research report on Tuesday, June 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $88.80.
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In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock valued at $561,905 in the last ninety days. Company insiders own 2.13% of the company’s stock.
Microchip Technology 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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