Victory Capital Management Inc. Has $162.39 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

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Victory Capital Management Inc. lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,580,259 shares of the semiconductor company’s stock after purchasing an additional 390,555 shares during the period. Victory Capital Management Inc. owned 0.63% of Microchip Technology worth $162,387,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its holdings in Microchip Technology by 1.5% in the 3rd quarter. Archford Capital Strategies LLC now owns 6,246 shares of the semiconductor company’s stock worth $642,000 after acquiring an additional 91 shares during the period. Private Advisor Group LLC raised its holdings in Microchip Technology by 0.3% in the 3rd quarter. Private Advisor Group LLC now owns 32,936 shares of the semiconductor company’s stock worth $3,453,000 after acquiring an additional 96 shares during the period. IFP Advisors Inc raised its holdings in Microchip Technology by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,652 shares of the semiconductor company’s stock worth $271,000 after acquiring an additional 106 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Microchip Technology by 16.2% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 768 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 107 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its holdings in Microchip Technology by 1.5% in the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 7,994 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 120 shares during the period. 98.20% of the stock is owned by institutional investors and hedge funds.

In other Microchip Technology news, Director Wade F. Meyercord sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $110.89, for a total value of $110,890.00. Following the completion of the sale, the director now owns 8,392 shares of the company’s stock, valued at $930,588.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 2,893 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $108.39, for a total transaction of $313,572.27. The disclosure for this sale can be found here. Insiders sold 10,599 shares of company stock worth $1,202,988 over the last 90 days. 2.15% of the stock is currently owned by company insiders.

Shares of MCHP stock traded down $2.86 during trading hours on Tuesday, reaching $126.79. 6,667 shares of the company were exchanged, compared to its average volume of 3,043,082. Microchip Technology Incorporated has a fifty-two week low of $53.15 and a fifty-two week high of $131.65. The stock’s fifty day moving average is $112.12 and its two-hundred day moving average is $103.42. The company has a market cap of $33.76 billion, a price-to-earnings ratio of 55.41, a P/E/G ratio of 1.95 and a beta of 1.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.83 and a quick ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, November 5th. The semiconductor company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.13. Microchip Technology had a net margin of 12.23% and a return on equity of 24.31%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $1.43 earnings per share. Microchip Technology’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts anticipate that Microchip Technology Incorporated will post 5.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be given a dividend of $0.3685 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, November 19th. Microchip Technology’s dividend payout ratio is presently 28.38%.

Several research analysts recently commented on MCHP shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $128.00 to $134.00 in a report on Friday, November 6th. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Thursday, November 12th. Cowen boosted their price objective on shares of Microchip Technology from $102.00 to $125.00 and gave the stock a “market perform” rating in a report on Friday, November 6th. Raymond James boosted their price objective on shares of Microchip Technology from $125.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Friday, November 6th. Finally, Rosenblatt Securities boosted their price objective on shares of Microchip Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology currently has an average rating of “Buy” and an average target price of $124.79.

Microchip Technology Company Profile

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

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

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