Gilbert & Cook Inc. bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,429 shares of the semiconductor company’s stock, valued at approximately $264,000.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Microchip Technology by 2.6% in the first quarter. Vanguard Group Inc. now owns 22,579,936 shares of the semiconductor company’s stock valued at $1,665,948,000 after buying an additional 563,501 shares during the period. Janus Capital Management LLC boosted its stake in Microchip Technology by 10.3% in the first quarter. Janus Capital Management LLC now owns 7,130,689 shares of the semiconductor company’s stock valued at $526,103,000 after buying an additional 666,436 shares during the period. Waddell & Reed Financial Inc. boosted its stake in Microchip Technology by 11.4% in the first quarter. Waddell & Reed Financial Inc. now owns 6,290,257 shares of the semiconductor company’s stock valued at $464,095,000 after buying an additional 641,548 shares during the period. Aristotle Capital Management LLC boosted its stake in Microchip Technology by 0.4% in the first quarter. Aristotle Capital Management LLC now owns 4,413,824 shares of the semiconductor company’s stock valued at $325,652,000 after buying an additional 18,683 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Microchip Technology by 0.8% in the first quarter. Principal Financial Group Inc. now owns 3,768,970 shares of the semiconductor company’s stock valued at $278,074,000 after buying an additional 30,906 shares during the period. 98.67% of the stock is owned by institutional investors.
Microchip Technology Incorporated (NASDAQ:MCHP) traded up 1.19% on Friday, reaching $82.21. The company had a trading volume of 1,407,163 shares. The stock has a market capitalization of $19.13 billion, a P/E 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 Incorporated has a 12 month low of $57.52 and a 12 month high of $87.49.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the company 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 fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a $0.362 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 77.54%.
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MCHP has been the subject of several recent analyst reports. Credit Suisse Group reissued a “buy” rating on shares of Microchip Technology in a research note on Friday, August 4th. Stifel Nicolaus lifted their price objective on Microchip Technology from $88.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, June 6th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, May 10th. BidaskClub cut Microchip Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, B. Riley reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a research note on Tuesday, June 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $88.80.
In other Microchip Technology news, VP Stephen V. Drehobl sold 3,974 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total value of $319,072.46. Following the completion of the sale, the vice president now owns 14,263 shares in the company, valued at $1,145,176.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 2,510 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The disclosure for this sale can be found here. Company 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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