MetLife Investment Advisors LLC Buys New Holdings in Microchip Technology Inc. (MCHP)

MetLife Investment Advisors LLC bought a new stake in Microchip Technology Inc. (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,372 shares of the semiconductor company’s stock, valued at approximately $6,360,000.

Several other large investors also recently added to or reduced their stakes in MCHP. Atlantic Trust Group LLC increased its holdings in shares of Microchip Technology by 255.3% in the third quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock valued at $124,014,000 after purchasing an additional 992,572 shares during the period. TimesSquare Capital Management LLC acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $72,300,000. Janus Henderson Group PLC grew its holdings 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 acquiring an additional 630,311 shares during the period. Carillon Tower Advisers Inc. acquired a new position in Microchip Technology during the fourth quarter worth $41,809,000. Finally, Mackenzie Financial Corp acquired a new position in Microchip Technology during the fourth quarter worth $39,601,000.

How to Become a New Pot Stock Millionaire

Shares of MCHP stock opened at $94.01 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.33. The firm has a market capitalization of $22,625.83, a price-to-earnings ratio of 96.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. Microchip Technology Inc. has a twelve month low of $71.40 and a twelve month high of $101.48.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. Microchip Technology’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. equities research analysts forecast 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. Shareholders of record on Wednesday, February 21st were issued a $0.363 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.45 annualized dividend and a yield of 1.54%. Microchip Technology’s dividend payout ratio is 149.49%.

In other Microchip Technology news, CEO Steve Sanghi sold 20,124 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $94.80, for a total value of $1,907,755.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Esther Johnson sold 2,275 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total value of $222,722.50. Following the completion of the sale, the director now directly owns 6,081 shares in the company, valued at approximately $595,329.90. The disclosure for this sale can be found here. Insiders sold 33,667 shares of company stock worth $3,132,552 in the last three months. 2.13% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on MCHP. Goldman Sachs raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.57 to $108.00 in a report on Thursday, March 8th. Stifel Nicolaus reaffirmed an “average” rating and set a $112.00 price objective on shares of Microchip Technology in a report on Tuesday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, March 6th. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $110.00 in a report on Monday, March 5th. Finally, SunTrust Banks raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Four research 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’s stock. Microchip Technology presently has an average rating of “Buy” and a consensus target price of $103.04.

ILLEGAL ACTIVITY WARNING: This story was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another domain, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3297044/metlife-investment-advisors-llc-buys-new-holdings-in-microchip-technology-inc-mchp.html.

About Microchip Technology

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.

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).

Institutional Ownership by Quarter for Microchip Technology (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.

Latest News

Lexington Realty Trust  Hits New 1-Year High and Low at $7.62
Lexington Realty Trust Hits New 1-Year High and Low at $7.62
Eyes Lips Face  Reaches New 52-Week High and Low at $17.14
Eyes Lips Face Reaches New 52-Week High and Low at $17.14
Contrasting Finish Line  & Foot Locker
Contrasting Finish Line & Foot Locker
Comparing Aeglea Bio Therapeutics  & Aileron Therapeutics
Comparing Aeglea Bio Therapeutics & Aileron Therapeutics
AerCap  and The Competition Head to Head Analysis
AerCap and The Competition Head to Head Analysis
Intesa Sanpaolo  Given Average Rating of “Buy” by Analysts
Intesa Sanpaolo Given Average Rating of “Buy” by Analysts


© 2006-2018 Ticker Report. Google+.