Sustainable Insight Capital Management LLC boosted its position in Microchip Technology Inc. (NASDAQ:MCHP) by 68.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,100 shares of the semiconductor company’s stock after purchasing an additional 14,300 shares during the quarter. Microchip Technology makes up approximately 3.5% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Sustainable Insight Capital Management LLC’s holdings in Microchip Technology were worth $3,043,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of MCHP. Osborn Williams & Donohoe LLC purchased a new stake in Microchip Technology in the first quarter valued at approximately $31,000. Meeder Asset Management Inc. purchased a new stake in Microchip Technology in the second quarter valued at approximately $37,000. Parkside Financial Bank & Trust boosted its position in Microchip Technology by 65.3% in the first quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 171 shares during the last quarter. Spectrum Management Group Inc. boosted its position in Microchip Technology by 127.1% in the second quarter. Spectrum Management Group Inc. now owns 452 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. Finally, Oakworth Capital Inc. purchased a new stake in Microchip Technology in the 2nd quarter worth approximately $40,000.
Several equities research analysts have commented on MCHP shares. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a research report on Wednesday, August 7th. BMO Capital Markets lowered their price objective on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Mizuho upped their price objective on Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. B. Riley upped their price objective on Microchip Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research lowered Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Microchip Technology has an average rating of “Hold” and a consensus price target of $101.76.
MCHP stock traded up $0.06 during midday trading on Thursday, hitting $89.08. 26,506 shares of the stock were exchanged, compared to its average volume of 2,519,813. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $101.35. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.38 and a beta of 1.41. The stock’s 50-day moving average price is $90.93 and its 200-day moving average price is $88.76. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.63 and a current ratio of 0.93.
Microchip Technology (NASDAQ:MCHP) last released 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. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. Research analysts anticipate that Microchip Technology Inc. will post 5.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a $0.366 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.64%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio is currently 24.01%.
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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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).
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.