Cambridge Investment Research Advisors Inc. Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Cambridge Investment Research Advisors Inc. grew its position in Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 108.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,214 shares of the semiconductor company’s stock after purchasing an additional 18,855 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Microchip Technology were worth $3,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Microchip Technology by 31.5% in the third quarter. Van ECK Associates Corp now owns 1,492,831 shares of the semiconductor company’s stock valued at $229,134,000 after purchasing an additional 357,908 shares during the last quarter. Avity Investment Management Inc. purchased a new stake in Microchip Technology during the fourth quarter worth about $226,000. Redpoint Investment Management Pty Ltd increased its holdings in Microchip Technology by 100.0% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 14,372 shares of the semiconductor company’s stock worth $1,251,000 after buying an additional 7,186 shares during the last quarter. Studio Investment Management LLC purchased a new stake in Microchip Technology during the third quarter worth about $3,476,000. Finally, HighTower Advisors LLC increased its holdings in Microchip Technology by 46.1% during the third quarter. HighTower Advisors LLC now owns 17,442 shares of the semiconductor company’s stock worth $2,675,000 after buying an additional 5,504 shares during the last quarter. Institutional investors own 55.64% of the company’s stock.

Shares of Microchip Technology stock opened at $67.62 on Friday. Microchip Technology Incorporated has a 1 year low of $64.26 and a 1 year high of $90.00. The firm has a market cap of $37.60 billion, a PE ratio of 39.78, a PEG ratio of 0.66 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.81 and a quick ratio of 1.18. The company has a 50 day simple moving average of $71.35 and a two-hundred day simple moving average of $80.28.

Microchip Technology (NASDAQ:MCHPGet Rating) last announced its earnings results on Thursday, February 3rd. The semiconductor company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.03. Microchip Technology had a net margin of 14.95% and a return on equity of 38.44%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, research analysts anticipate that Microchip Technology Incorporated will post 4.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 8th. Shareholders of record on Tuesday, February 22nd were given a dividend of $0.253 per share. The ex-dividend date was Friday, February 18th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.23. This represents a $1.01 annualized dividend and a yield of 1.50%. Microchip Technology’s payout ratio is presently 59.41%.

A number of research firms recently issued reports on MCHP. StockNews.com began coverage on shares of Microchip Technology in a report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a report on Thursday. UBS Group raised their price objective on shares of Microchip Technology from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, March 9th. B. Riley cut their target price on shares of Microchip Technology from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, February 4th. Finally, The Goldman Sachs Group lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and set a $79.00 target price for the company. in a research report on Sunday, March 27th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $95.79.

In related news, Director Matthew W. Chapman sold 1,000 shares of Microchip Technology stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $70.93, for a total value of $70,930.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,885 shares of Microchip Technology stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total transaction of $133,703.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,498 shares of company stock valued at $460,903. 2.03% of the stock is currently owned by company insiders.

About Microchip Technology (Get Rating)

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 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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

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