Pennsylvania Trust Co Has $1.53 Million Stake in Microchip Technology Inc. (NASDAQ:MCHP)

Share on StockTwits

Pennsylvania Trust Co trimmed its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,424 shares of the semiconductor company’s stock after selling 331 shares during the period. Pennsylvania Trust Co’s holdings in Microchip Technology were worth $1,526,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MCHP. Winslow Capital Management LLC bought a new stake in shares of Microchip Technology during the second quarter worth approximately $221,600,000. Nuveen Asset Management LLC bought a new stake in shares of Microchip Technology during the second quarter worth approximately $77,989,000. Vanguard Group Inc. raised its stake in shares of Microchip Technology by 1.5% during the second quarter. Vanguard Group Inc. now owns 27,539,982 shares of the semiconductor company’s stock worth $2,387,716,000 after buying an additional 395,287 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Microchip Technology by 693.4% during the first quarter. Westfield Capital Management Co. LP now owns 444,716 shares of the semiconductor company’s stock worth $36,894,000 after buying an additional 388,661 shares during the last quarter. Finally, Platinum Investment Management Ltd. raised its stake in shares of Microchip Technology by 16.7% during the second quarter. Platinum Investment Management Ltd. now owns 2,062,349 shares of the semiconductor company’s stock worth $178,806,000 after buying an additional 295,823 shares during the last quarter.

Shares of NASDAQ:MCHP opened at $92.41 on Friday. Microchip Technology Inc. has a 52 week low of $60.70 and a 52 week high of $101.35. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.63 and a current ratio of 0.93. The company has a market capitalization of $21.25 billion, a PE ratio of 15.20, a PEG ratio of 1.62 and a beta of 1.41. The company has a 50 day moving average price of $90.36 and a two-hundred day moving average price of $89.50.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.16. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Microchip Technology Inc. will post 5.26 earnings per share for the current year.

In other news, CFO James Eric Bjornholt sold 1,937 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total transaction of $171,618.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard J. Simoncic sold 3,437 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $304,518.20. Following the sale, the vice president now directly owns 18,178 shares of the company’s stock, valued at approximately $1,610,570.80. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

A number of equities research analysts recently weighed in on MCHP shares. Piper Jaffray Companies set a $110.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Longbow Research started coverage on shares of Microchip Technology in a research note on Tuesday, July 9th. They set a “neutral” rating and a $87.93 price target for the company. Needham & Company LLC set a $100.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 price target for the company. in a research note on Thursday, July 25th. Finally, B. Riley set a $120.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $100.62.

Microchip Technology Company 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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Further Reading: What is the strike price in options trading?

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

Heico Corp  Receives $110.08 Average Target Price from Brokerages
Heico Corp Receives $110.08 Average Target Price from Brokerages
Polypipe Group  Stock Rating Lowered by Peel Hunt
Polypipe Group Stock Rating Lowered by Peel Hunt
Trevena Inc  Expected to Announce Earnings of -$0.08 Per Share
Trevena Inc Expected to Announce Earnings of -$0.08 Per Share
Trifast  Rating Reiterated by Peel Hunt
Trifast Rating Reiterated by Peel Hunt
Neumark Market Capitalization Reaches $3.66 Million
Neumark Market Capitalization Reaches $3.66 Million
Asura Coin  Trading Down 12.9% Over Last 7 Days
Asura Coin Trading Down 12.9% Over Last 7 Days


© 2006-2019 Ticker Report