Microchip Technology Inc. (NASDAQ:MCHP) Shares Acquired by Advisors Capital Management LLC

Share on StockTwits

Advisors Capital Management LLC increased its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 3.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 130,175 shares of the semiconductor company’s stock after purchasing an additional 4,702 shares during the quarter. Advisors Capital Management LLC’s holdings in Microchip Technology were worth $13,632,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Microchip Technology by 1.5% in the second quarter. Vanguard Group Inc. now owns 27,539,982 shares of the semiconductor company’s stock valued at $2,387,716,000 after buying an additional 395,287 shares in the last quarter. Waddell & Reed Financial Inc. grew its stake in shares of Microchip Technology by 1.8% in the second quarter. Waddell & Reed Financial Inc. now owns 2,925,064 shares of the semiconductor company’s stock valued at $253,603,000 after buying an additional 52,557 shares in the last quarter. Platinum Investment Management Ltd. grew its stake in shares of Microchip Technology by 16.7% in the second quarter. Platinum Investment Management Ltd. now owns 2,062,349 shares of the semiconductor company’s stock valued at $178,806,000 after buying an additional 295,823 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Microchip Technology by 210.2% in the third quarter. Point72 Asset Management L.P. now owns 1,397,468 shares of the semiconductor company’s stock valued at $129,839,000 after buying an additional 946,967 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Microchip Technology by 0.9% in the third quarter. Parametric Portfolio Associates LLC now owns 1,383,473 shares of the semiconductor company’s stock valued at $128,538,000 after buying an additional 12,395 shares in the last quarter.

NASDAQ MCHP traded down $0.17 during mid-day trading on Friday, reaching $110.15. 74,913 shares of the company’s stock traded hands, compared to its average volume of 2,483,067. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 1.57. The company has a fifty day simple moving average of $100.89 and a 200-day simple moving average of $93.93. Microchip Technology Inc. has a 1-year low of $73.25 and a 1-year high of $110.80. The company has a market cap of $26.12 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.89 and a beta of 1.43.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. Microchip Technology had a return on equity of 25.60% and a net margin of 7.15%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $1.81 EPS. Microchip Technology’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Inc. will post 4.89 earnings per share for the current fiscal year.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,958 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $91.15, for a total transaction of $178,471.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard J. Simoncic sold 3,536 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $91.15, for a total value of $322,306.40. Following the transaction, the vice president now directly owns 18,452 shares in the company, valued at approximately $1,681,899.80. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

MCHP has been the subject of a number of recent research reports. B. Riley reiterated a “buy” rating and issued a $130.00 target price on shares of Microchip Technology in a research note on Tuesday. ValuEngine upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Raymond James upgraded Microchip Technology from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research note on Wednesday, October 30th. Wells Fargo & Co restated a “buy” rating and set a $120.00 price objective (up previously from $115.00) on shares of Microchip Technology in a research note on Tuesday. Finally, Zacks Investment Research upgraded Microchip Technology from a “sell” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $110.88.

Microchip Technology 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.

See Also: How to calculate compound interest

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Inc. (NASDAQ:MCHP).

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

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply