Prospera Financial Services Inc Acquires New Shares in Microchip Technology Inc. (NASDAQ:MCHP)

Prospera Financial Services Inc acquired a new stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,742 shares of the semiconductor company’s stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Winslow Capital Management LLC acquired a new stake in shares of Microchip Technology in the second quarter worth about $221,600,000. TimesSquare Capital Management LLC acquired a new stake in shares of Microchip Technology in the first quarter worth about $44,915,000. Westfield Capital Management Co. LP lifted its position in shares of Microchip Technology by 693.4% in the first quarter. Westfield Capital Management Co. LP now owns 444,716 shares of the semiconductor company’s stock worth $36,894,000 after buying an additional 388,661 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Microchip Technology in the first quarter worth about $23,727,000. Finally, First Trust Advisors LP lifted its position in shares of Microchip Technology by 30.2% in the first quarter. First Trust Advisors LP now owns 1,129,588 shares of the semiconductor company’s stock worth $93,711,000 after buying an additional 261,717 shares during the last quarter.

Shares of Microchip Technology stock traded down $0.67 during trading on Thursday, reaching $92.90. The company’s stock had a trading volume of 561,699 shares, compared to its average volume of 2,365,868. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.63 and a current ratio of 0.93. The business’s fifty day moving average price is $89.03 and its 200-day moving average price is $88.86. The firm has a market cap of $22.48 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $101.35.



Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.16. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Microchip Technology Inc. will post 5.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.366 per share. This represents a $1.46 annualized dividend and a yield of 1.58%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, August 20th. Microchip Technology’s payout ratio is currently 24.01%.

A number of brokerages have weighed in on MCHP. Zacks Investment Research cut Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 price target for the company. in a research report on Thursday, July 25th. ValuEngine cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co lifted their price objective on Microchip Technology from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. B. Riley set a $120.00 price objective on Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $100.88.

In related news, VP Richard J. Simoncic sold 3,437 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $304,518.20. Following the transaction, the vice president now directly owns 18,178 shares in the company, valued at $1,610,570.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 1,937 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $171,618.20. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

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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