Norden Group LLC Invests $249,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

Norden Group LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,758 shares of the semiconductor company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Microchip Technology by 1.1% in the third quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock worth $587,046,000 after purchasing an additional 80,431 shares during the last quarter. Van ECK Associates Corp raised its position in Microchip Technology by 16.0% during the 4th quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock worth $466,863,000 after buying an additional 714,376 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in Microchip Technology during the 3rd quarter valued at approximately $225,800,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Microchip Technology by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,830,397 shares of the semiconductor company’s stock valued at $220,913,000 after acquiring an additional 25,002 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Microchip Technology by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company’s stock worth $221,586,000 after acquiring an additional 11,163 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 target price for the company. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Thursday, January 18th. The Goldman Sachs Group decreased their price target on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Susquehanna reaffirmed a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a report on Monday, April 8th. Finally, Stifel Nicolaus boosted their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $92.75.

Insider Activity

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Trading Down 3.5 %

MCHP stock opened at $88.79 on Thursday. The business’s 50-day moving average is $87.77 and its 200 day moving average is $84.92. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.63. The stock has a market cap of $47.98 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.81 and a beta of 1.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $1.48 EPS. The firm’s revenue was down 18.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.