Capital Impact Advisors LLC maintained its stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,840 shares of the semiconductor company’s stock at the end of the second quarter. Microchip Technology accounts for 1.0% of Capital Impact Advisors LLC’s portfolio, making the stock its 19th largest position. Capital Impact Advisors LLC’s holdings in Microchip Technology were worth $2,226,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Trust Co. of Vermont boosted its stake in shares of Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock worth $125,000 after buying an additional 136 shares during the period. Duncker Streett & Co. Inc. boosted its stake in shares of Microchip Technology by 42.2% in the first quarter. Duncker Streett & Co. Inc. now owns 1,696 shares of the semiconductor company’s stock worth $125,000 after buying an additional 503 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Microchip Technology during the first quarter worth approximately $135,000. Webster Bank N. A. boosted its stake in shares of Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock worth $146,000 after buying an additional 800 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Microchip Technology during the first quarter worth approximately $173,000. 98.67% of the stock is owned by hedge funds and other institutional investors.
Microchip Technology Incorporated (NASDAQ MCHP) traded up 1.19% on Friday, reaching $82.21. The company’s stock had a trading volume of 1,407,163 shares. Microchip Technology Incorporated has a one year low of $57.52 and a one year high of $87.49. The company has a market capitalization of $19.13 billion, a PE ratio of 44.29 and a beta of 1.06. The firm has a 50-day moving average of $80.52 and a 200-day moving average of $76.82.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million during the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. Analysts predict that Microchip Technology Incorporated will post $5.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be given a dividend of $0.362 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.45 dividend on an annualized basis and a yield of 1.76%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is presently 77.54%.
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A number of brokerages recently commented on MCHP. Mizuho reissued a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Microchip Technology in a research report on Wednesday. BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. B. Riley reiterated a “buy” rating and issued a $115.00 price target on shares of Microchip Technology in a research report on Sunday, June 11th. Jefferies Group LLC reiterated a “buy” rating on shares of Microchip Technology in a research report on Monday, July 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $102.00 price target (up from $100.00) on shares of Microchip Technology in a research report on Tuesday, June 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Microchip Technology has a consensus rating of “Buy” and an average target price of $88.80.
In related news, CFO James Eric Bjornholt sold 2,510 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total value of $201,527.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 3,974 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $319,072.46. Following the completion of the sale, the vice president now owns 14,263 shares of the company’s stock, valued at $1,145,176.27. The disclosure for this sale can be found here. Insiders own 2.13% 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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