Microchip Technology Inc. (MCHP) Shares Bought by First Mercantile Trust Co.

First Mercantile Trust Co. raised its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 52.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,591 shares of the semiconductor company’s stock after buying an additional 3,994 shares during the period. First Mercantile Trust Co.’s holdings in Microchip Technology were worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in Microchip Technology by 0.9% in the third quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the period. Northern Trust Corp boosted its holdings in Microchip Technology by 3.8% in the 4th quarter. Northern Trust Corp now owns 3,306,865 shares of the semiconductor company’s stock valued at $237,828,000 after purchasing an additional 121,647 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Microchip Technology by 4.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock valued at $227,564,000 after purchasing an additional 134,749 shares in the last quarter. Norges Bank purchased a new stake in Microchip Technology in the 4th quarter valued at approximately $155,541,000. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Microchip Technology by 7,043.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 1,815,732 shares in the last quarter.

MCHP stock opened at $83.61 on Tuesday. Microchip Technology Inc. has a 1 year low of $60.70 and a 1 year high of $104.20. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.83 and a current ratio of 0.93. The company has a market capitalization of $21.18 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.19 and a beta of 1.31.



Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company earned $1.40 EPS. Microchip Technology’s revenue was up 32.6% on a year-over-year basis. Analysts expect that Microchip Technology Inc. will post 6.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $0.3655 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio is presently 24.01%.

Several equities research analysts have recently commented on MCHP shares. BMO Capital Markets decreased their price target on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Mizuho boosted their price target on Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. BidaskClub lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. B. Riley boosted their price target on Microchip Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $104.32.

In other Microchip Technology news, VP James Eric Bjornholt sold 2,356 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $89.24, for a total value of $210,249.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director L B. Day sold 3,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $84.82, for a total value of $296,870.00. Following the completion of the transaction, the director now owns 9,238 shares of the company’s stock, valued at $783,567.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,101 shares of company stock worth $1,258,210. 2.13% of the stock is owned by corporate insiders.

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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.

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

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