2,518 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by JustInvest LLC

JustInvest LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, Holdings Channel reports. The firm acquired 2,518 shares of the semiconductor company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meiji Yasuda Life Insurance Co lifted its stake in shares of Microchip Technology by 8.3% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 15,812 shares of the semiconductor company’s stock worth $1,665,000 after purchasing an additional 1,215 shares during the last quarter. Clarius Group LLC purchased a new stake in shares of Microchip Technology during the 2nd quarter worth $240,000. Redpoint Investment Management Pty Ltd lifted its stake in shares of Microchip Technology by 20.3% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 12,096 shares of the semiconductor company’s stock worth $1,274,000 after purchasing an additional 2,043 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Microchip Technology by 32.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 54,533 shares of the semiconductor company’s stock worth $5,744,000 after purchasing an additional 13,272 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in shares of Microchip Technology by 3.8% during the 2nd quarter. Gulf International Bank UK Ltd now owns 54,434 shares of the semiconductor company’s stock worth $5,732,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

A number of equities research analysts have commented on MCHP shares. BidaskClub cut Microchip Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upgraded Microchip Technology from an “equal weight” rating to an “overweight” rating and set a $131.00 price target for the company in a research note on Monday, October 19th. KeyCorp increased their price target on Microchip Technology from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. BNP Paribas started coverage on Microchip Technology in a research note on Thursday, July 9th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Cowen decreased their price target on Microchip Technology from $110.00 to $102.00 and set a “market perform” rating for the company in a research note on Wednesday, August 5th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $116.68.

In other news, Director Wade F. Meyercord sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $110.89, for a total value of $110,890.00. Following the transaction, the director now owns 8,392 shares in the company, valued at $930,588.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 2,893 shares of the firm’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 value of $313,572.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,695 shares of company stock worth $836,561. 2.15% of the stock is owned by corporate insiders.

Microchip Technology stock opened at $106.35 on Friday. The firm has a market cap of $26.85 billion, a price-to-earnings ratio of 42.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Microchip Technology Incorporated has a 52 week low of $53.15 and a 52 week high of $116.56. The business’s 50-day moving average price is $105.97 and its 200 day moving average price is $100.04. The company has a quick ratio of 0.57, a current ratio of 0.83 and a debt-to-equity ratio of 1.41.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, August 4th. The semiconductor company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. Microchip Technology had a return on equity of 24.31% and a net margin of 12.23%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $1.41 earnings per share. Microchip Technology’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts expect that Microchip Technology Incorporated will post 5.38 EPS for the current year.

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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