First Trust Advisors LP Has $94.94 Million Position in Microchip Technology Inc. (MCHP)

First Trust Advisors LP raised its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,203,113 shares of the semiconductor company’s stock after buying an additional 97,762 shares during the quarter. First Trust Advisors LP owned 0.51% of Microchip Technology worth $94,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Microchip Technology in the second quarter valued at approximately $34,037,000. BKD Wealth Advisors LLC lifted its stake in Microchip Technology by 4.5% in the third quarter. BKD Wealth Advisors LLC now owns 45,917 shares of the semiconductor company’s stock valued at $3,623,000 after buying an additional 1,982 shares during the period. Tredje AP fonden acquired a new position in Microchip Technology in the second quarter valued at approximately $2,321,000. Exane Derivatives lifted its stake in Microchip Technology by 63.7% in the third quarter. Exane Derivatives now owns 40,838 shares of the semiconductor company’s stock valued at $3,221,000 after buying an additional 15,890 shares during the period. Finally, Glen Harbor Capital Management LLC lifted its stake in Microchip Technology by 21.3% in the second quarter. Glen Harbor Capital Management LLC now owns 30,128 shares of the semiconductor company’s stock valued at $2,740,000 after buying an additional 5,292 shares during the period.

Several equities analysts have issued reports on the company. Needham & Company LLC dropped their price target on Microchip Technology to $100.00 and set a “strong-buy” rating on the stock in a research note on Friday. Nomura dropped their price target on Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. BidaskClub lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Morgan Stanley dropped their price target on Microchip Technology from $95.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 10th. Finally, Zacks Investment Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $110.00.



In related news, VP Stephen V. Drehobl sold 3,998 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total value of $337,151.34. Following the completion of the sale, the vice president now directly owns 16,931 shares of the company’s stock, valued at approximately $1,427,791.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 1,887 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total value of $159,130.71. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Shares of NASDAQ:MCHP opened at $62.37 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 1.96. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $104.20. The company has a market cap of $14.72 billion, a PE ratio of 11.32, a PEG ratio of 0.68 and a beta of 1.10.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.13. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. Microchip Technology’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts predict that Microchip Technology Inc. will post 6.36 EPS for the current fiscal year.

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

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