Landscape Capital Management L.L.C. decreased its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 27.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,435 shares of the semiconductor company’s stock after selling 1,650 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Microchip Technology were worth $390,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of MCHP. Atlantic Trust Group LLC increased its position in Microchip Technology by 255.3% during the third quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock worth $124,014,000 after purchasing an additional 992,572 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Microchip Technology during the third quarter worth approximately $72,300,000. Janus Henderson Group PLC increased its position in Microchip Technology by 7.8% during the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock worth $781,389,000 after purchasing an additional 630,311 shares during the last quarter. Ameriprise Financial Inc. increased its position in Microchip Technology by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,891,973 shares of the semiconductor company’s stock worth $259,643,000 after purchasing an additional 488,832 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in Microchip Technology during the fourth quarter worth approximately $41,809,000.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 2nd. Rosenblatt Securities reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, March 6th. Finally, Argus reissued a “buy” rating and issued a $90.00 price objective (up previously from $79.90) on shares of Microchip Technology in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $103.04.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The business had revenue of $994.10 million during the quarter, compared to the consensus estimate of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. analysts anticipate that Microchip Technology Inc. will post 5.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Wednesday, February 21st were paid a $0.363 dividend. The ex-dividend date was Tuesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.47%. Microchip Technology’s dividend payout ratio is 149.49%.
In other news, VP Mitchell R. Little sold 4,159 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the completion of the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,326,635.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 2,109 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total transaction of $177,535.62. The disclosure for this sale can be found here. Insiders sold 31,392 shares of company stock valued at $2,909,829 over the last 90 days. Insiders own 2.13% of the company’s stock.
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Microchip Technology Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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