Edmp Inc. Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)


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Edmp Inc. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,001 shares of the semiconductor company’s stock after selling 400 shares during the period. Edmp Inc.’s holdings in Microchip Technology were worth $311,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MCHP. Oregon Public Employees Retirement Fund boosted its holdings in shares of Microchip Technology by 13.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,674 shares of the semiconductor company’s stock valued at $3,364,000 after acquiring an additional 2,518 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Microchip Technology by 135.4% in the first quarter. Exchange Traded Concepts LLC now owns 605 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 348 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in shares of Microchip Technology by 0.3% during the first quarter. Pinnacle Financial Partners Inc. now owns 36,342 shares of the semiconductor company’s stock worth $5,641,000 after purchasing an additional 101 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Microchip Technology by 98.4% in the first quarter. International Assets Investment Management LLC now owns 61,358 shares of the semiconductor company’s stock valued at $842,000 after acquiring an additional 30,431 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Microchip Technology by 13.8% during the first quarter. Crossmark Global Holdings Inc. now owns 58,067 shares of the semiconductor company’s stock worth $9,013,000 after acquiring an additional 7,020 shares during the period. Hedge funds and other institutional investors own 94.10% of the company’s stock.

A number of brokerages have recently weighed in on MCHP. Raymond James raised their price target on Microchip Technology from $140.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 19th. Longbow Research raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Monday, March 29th. Vertical Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 3rd. Mizuho raised their price target on Microchip Technology from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. Finally, Rosenblatt Securities boosted their target price on shares of Microchip Technology from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, February 5th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $150.48.

Shares of MCHP traded down $1.36 during midday trading on Thursday, hitting $153.29. The stock had a trading volume of 8,916 shares, compared to its average volume of 2,131,414. The business has a 50-day simple moving average of $152.89 and a two-hundred day simple moving average of $139.59. The firm has a market cap of $41.28 billion, a P/E ratio of 66.09, a price-to-earnings-growth ratio of 1.74 and a beta of 1.69. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 1.50. Microchip Technology Incorporated has a fifty-two week low of $76.76 and a fifty-two week high of $166.67.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 4th. The semiconductor company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. Microchip Technology had a net margin of 11.62% and a return on equity of 25.02%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. On average, analysts expect that Microchip Technology Incorporated will post 5.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 8th. Investors of record on Monday, February 22nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.02%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 19th. Microchip Technology’s payout ratio is presently 30.12%.

In related news, Director Matthew W. Chapman sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $159.20, for a total transaction of $79,600.00. Following the transaction, the director now directly owns 18,856 shares of the company’s stock, valued at $3,001,875.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 3,653 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total transaction of $581,557.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,586 shares of company stock valued at $889,291 over the last 90 days. Corporate insiders own 2.15% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

Further Reading: The Discount Rate – What You Need to Know

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

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