Microchip Technology Inc. (NASDAQ:MCHP) Stake Lowered by Cramer Rosenthal Mcglynn LLC
Cramer Rosenthal Mcglynn LLC cut its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 37.4% in the 2nd quarter, Holdings Channel reports. The firm owned 255,231 shares of the semiconductor company’s stock after selling 152,494 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Microchip Technology were worth $22,129,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. grew its holdings in shares of Microchip Technology by 0.8% during the second quarter. Eagle Asset Management Inc. now owns 931,384 shares of the semiconductor company’s stock valued at $80,750,000 after purchasing an additional 7,696 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Microchip Technology by 42.8% during the first quarter. Advisory Services Network LLC now owns 3,068 shares of the semiconductor company’s stock worth $254,000 after buying an additional 920 shares during the period. Hallmark Capital Management Inc. boosted its position in shares of Microchip Technology by 1.5% during the first quarter. Hallmark Capital Management Inc. now owns 206,641 shares of the semiconductor company’s stock worth $17,143,000 after buying an additional 3,130 shares during the period. South Dakota Investment Council boosted its position in shares of Microchip Technology by 20.9% during the first quarter. South Dakota Investment Council now owns 5,200 shares of the semiconductor company’s stock worth $431,000 after buying an additional 900 shares during the period. Finally, IFG Advisory LLC acquired a new position in shares of Microchip Technology during the second quarter worth approximately $204,000.
In other news, VP Richard J. Simoncic sold 3,437 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $304,518.20. Following the completion of the sale, the vice president now owns 18,178 shares in the company, valued at approximately $1,610,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,937 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $171,618.20. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.
MCHP traded down $0.31 during trading on Friday, reaching $95.16. The stock had a trading volume of 15,319 shares, compared to its average volume of 2,348,587. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.41. The company has a quick ratio of 0.63, a current ratio of 0.93 and a debt-to-equity ratio of 1.65. Microchip Technology Inc. has a 1-year low of $60.70 and a 1-year high of $101.35. The stock has a 50 day moving average of $89.50 and a two-hundred day moving average of $88.68.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.16. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. On average, research analysts forecast that Microchip Technology Inc. will post 5.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.366 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.54%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, August 20th. Microchip Technology’s dividend payout ratio is 24.01%.
About Microchip Technology
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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