Asset Planning Services Inc. LA ADV acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, Holdings Channel reports. The firm acquired 68,443 shares of the company’s stock, valued at approximately $4,391,000. Microchip Technology comprises approximately 4.1% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its 2nd largest position.
A number of other large investors have also bought and sold shares of MCHP. Neuberger Berman Group LLC acquired a new stake in Microchip Technology during the second quarter valued at approximately $1,570,000. Airain ltd acquired a new stake in Microchip Technology during the second quarter valued at approximately $2,909,000. Partnervest Advisory Services LLC raised its stake in Microchip Technology by 9.8% in the second quarter. Partnervest Advisory Services LLC now owns 6,247 shares of the company’s stock valued at $317,000 after buying an additional 560 shares during the last quarter. Opus Investment Management Inc. raised its stake in Microchip Technology by 14.8% in the second quarter. Opus Investment Management Inc. now owns 77,400 shares of the company’s stock valued at $3,929,000 after buying an additional 10,000 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in Microchip Technology by 135.7% in the second quarter. Quantbot Technologies LP now owns 70,008 shares of the company’s stock valued at $3,553,000 after buying an additional 40,311 shares during the last quarter.
Shares of Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.04% during mid-day trading on Friday, reaching $70.90. 17,639,819 shares of the company’s stock were exchanged. Microchip Technology Incorporated has a one year low of $40.81 and a one year high of $76.50. The company’s 50-day moving average price is $66.93 and its 200-day moving average price is $62.77. The company has a market capitalization of $15.33 billion, a PE ratio of 172.51 and a beta of 1.08.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Microchip Technology had a net margin of 3.10% and a return on equity of 30.26%. The firm had revenue of $881.20 million for the quarter, compared to the consensus estimate of $849.14 million. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 59.6% compared to the same quarter last year. On average, equities analysts expect that Microchip Technology Incorporated will post $3.90 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be given a $0.361 dividend. The ex-dividend date is Thursday, February 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is presently 378.95%.
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Several equities research analysts recently commented on the stock. Citigroup Inc. set a $85.00 price objective on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday. Macquarie reissued a “neutral” rating and set a $72.00 price objective (up previously from $67.00) on shares of Microchip Technology in a research note on Wednesday. Zacks Investment Research raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday. Jefferies Group LLC reissued a “buy” rating and set a $87.00 price objective (up previously from $72.00) on shares of Microchip Technology in a research note on Wednesday. Finally, Mizuho reissued a “neutral” rating and set a $72.00 price objective (up previously from $67.00) on shares of Microchip Technology in a research note on Wednesday. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Microchip Technology has a consensus rating of “Buy” and a consensus target price of $73.47.
In related news, VP Stephen V. Drehobl sold 3,494 shares of Microchip Technology stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $65.16, for a total value of $227,669.04. Following the completion of the sale, the vice president now directly owns 13,710 shares in the company, valued at approximately $893,343.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steve Sanghi sold 49,901 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $63.80, for a total transaction of $3,183,683.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,023 shares of company stock worth $5,608,975. Insiders own 2.50% of the company’s stock.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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