Microchip Technology (MCHP) Holdings Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Microchip Technology (NASDAQ:MCHP) by 91.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,028 shares of the semiconductor company’s stock after selling 1,111,300 shares during the period. Renaissance Technologies LLC’s holdings in Microchip Technology were worth $9,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation raised its position in shares of Microchip Technology by 215.5% during the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 836 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter valued at approximately $146,000. Twin Tree Management LP raised its position in shares of Microchip Technology by 126.2% during the 4th quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock valued at $194,000 after acquiring an additional 10,646 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Microchip Technology during the 4th quarter valued at approximately $198,000. Finally, Gillespie Robinson & Grimm Inc. acquired a new stake in shares of Microchip Technology during the 4th quarter valued at approximately $202,000.

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In other news, CFO James Eric Bjornholt sold 2,109 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $84.18, for a total value of $177,535.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Esther Johnson sold 2,275 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $97.90, for a total value of $222,722.50. Following the completion of the transaction, the director now directly owns 6,081 shares of the company’s stock, valued at approximately $595,329.90. The disclosure for this sale can be found here. In the last three months, insiders sold 33,667 shares of company stock valued at $3,132,552. Company insiders own 2.13% of the company’s stock.

Several equities research analysts recently issued reports on MCHP shares. Piper Jaffray started coverage on Microchip Technology in a research report on Monday, December 18th. They set an “overweight” rating and a $100.00 price target on the stock. Morgan Stanley upped their price target on Microchip Technology from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Zacks Investment Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report 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 report on Wednesday, February 7th. Finally, BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $103.99.

Shares of MCHP opened at $86.27 on Friday. The firm has a market cap of $21,001.83, a P/E ratio of 23.70, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 2.33, a current ratio of 2.98 and a debt-to-equity ratio of 0.95. Microchip Technology has a 12 month low of $71.40 and a 12 month high of $101.48.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The firm had revenue of $994.10 million during the quarter, compared to the consensus estimate of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. equities analysts forecast that Microchip Technology will post 5.13 earnings per share for the current fiscal year.

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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; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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

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