Ingalls & Snyder LLC Increases Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Ingalls & Snyder LLC raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,339 shares of the semiconductor company’s stock after buying an additional 574 shares during the period. Ingalls & Snyder LLC’s holdings in Microchip Technology were worth $412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp increased its position in Microchip Technology by 154.6% in the first quarter. Tompkins Financial Corp now owns 15,794 shares of the semiconductor company’s stock worth $761,000 after buying an additional 9,590 shares during the last quarter. Atria Investments LLC increased its position in Microchip Technology by 78.5% in the first quarter. Atria Investments LLC now owns 5,554 shares of the semiconductor company’s stock worth $410,000 after buying an additional 2,443 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Microchip Technology by 0.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 10,591 shares of the semiconductor company’s stock worth $781,000 after buying an additional 99 shares during the last quarter. Capstone Asset Management Co. increased its position in Microchip Technology by 356.9% in the first quarter. Capstone Asset Management Co. now owns 130,657 shares of the semiconductor company’s stock worth $9,640,000 after buying an additional 102,060 shares during the last quarter. Finally, Pennsylvania Trust Co increased its position in Microchip Technology by 3.3% in the first quarter. Pennsylvania Trust Co now owns 15,530 shares of the semiconductor company’s stock worth $1,146,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.

Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.09% during mid-day trading on Friday, reaching $81.58. The company’s stock had a trading volume of 1,349,171 shares. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 43.95 and a beta of 1.06. Microchip Technology Incorporated has a 52 week low of $57.52 and a 52 week high of $87.49. The firm has a 50-day moving average of $81.03 and a 200-day moving average of $77.35.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The business had revenue of $972.10 million during the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, equities research analysts expect that Microchip Technology Incorporated will post $5.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders 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 is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.77%. Microchip Technology’s payout ratio is currently 77.54%.

ILLEGAL ACTIVITY NOTICE: This story was published by BNB Daily and is the sole property of of BNB Daily. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.baseball-news-blog.com/2017/08/19/microchip-technology-incorporated-nasdaqmchp-position-increased-by-ingalls-snyder-llc-updated.html.

A number of research firms have recently commented on MCHP. Credit Suisse Group reiterated an “outperform” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Wednesday, June 7th. Mizuho reissued a “neutral” rating and issued a $80.00 target price (up from $75.00) on shares of Microchip Technology in a research report on Wednesday, June 7th. BidaskClub raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. B. Riley reissued a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research report on Wednesday, August 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $102.00 target price (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 given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.80.

In other Microchip Technology news, VP Stephen V. Drehobl sold 3,974 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total value of $319,072.46. Following the transaction, the vice president now owns 14,263 shares of the company’s stock, valued at $1,145,176.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 2,510 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total value of $201,527.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,784 shares of company stock valued at $629,735. 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.

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

Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply