Microchip Technology Inc. (MCHP) Position Decreased by Sawtooth Solutions LLC

Sawtooth Solutions LLC cut its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 16.4% during the 4th quarter, HoldingsChannel reports. The fund owned 5,246 shares of the semiconductor company’s stock after selling 1,032 shares during the quarter. Sawtooth Solutions LLC’s holdings in Microchip Technology were worth $461,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC raised its position in Microchip Technology by 7.8% in 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 in the last quarter. Aristotle Capital Management LLC raised its position in Microchip Technology by 5.6% in the fourth quarter. Aristotle Capital Management LLC now owns 4,816,895 shares of the semiconductor company’s stock worth $423,309,000 after acquiring an additional 257,166 shares in the last quarter. Alkeon Capital Management LLC increased its stake in Microchip Technology by 0.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,052,707 shares of the semiconductor company’s stock worth $184,292,000 after purchasing an additional 10,000 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Microchip Technology by 255.3% in the 3rd 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 in the last quarter. Finally, First Trust Advisors LP increased its stake in Microchip Technology by 18.9% in the 4th quarter. First Trust Advisors LP now owns 1,296,121 shares of the semiconductor company’s stock worth $113,903,000 after purchasing an additional 205,658 shares in the last quarter.

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MCHP has been the topic of a number of analyst reports. Piper Jaffray Companies initiated coverage on Microchip Technology in a research note on Monday, December 18th. They issued an “overweight” rating and a $100.00 price target on the stock. Morgan Stanley lifted their price target on Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Zacks Investment Research cut Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Bank of America dropped their price target on Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. Finally, BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $103.04.

MCHP stock opened at $94.01 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.33 and a current ratio of 2.98. Microchip Technology Inc. has a 12 month low of $71.40 and a 12 month high of $101.48. The firm has a market capitalization of $22,625.83, a PE ratio of 96.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08.

Microchip Technology (NASDAQ:MCHP) last released 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. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The company had revenue of $994.10 million for the quarter, compared to analysts’ expectations of $992.10 million. During the same quarter in the previous year, the business posted $1.05 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. equities research analysts forecast that Microchip Technology Inc. will post 5.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 149.49%.

In other news, CEO Steve Sanghi sold 20,124 shares of Microchip Technology stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $94.80, for a total transaction of $1,907,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Esther Johnson sold 2,275 shares of Microchip Technology stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total value of $222,722.50. Following the sale, the director now owns 6,081 shares of the company’s stock, valued at $595,329.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,667 shares of company stock worth $3,132,552. Company insiders own 2.13% of the company’s stock.

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Microchip Technology Company 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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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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