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.
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.
Recommended Story: Does the Dogs of the Dow strategy work?
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).
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.