Elk Creek Partners LLC Has $330,000 Stake in Microchip Technology Inc. (MCHP)

Elk Creek Partners LLC raised its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 46.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,177 shares of the semiconductor company’s stock after buying an additional 1,334 shares during the quarter. Elk Creek Partners LLC’s holdings in Microchip Technology were worth $330,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCHP. Psagot Investment House Ltd. purchased a new stake in shares of Microchip Technology in the 2nd quarter valued at about $125,000. Canada Pension Plan Investment Board lifted its holdings in shares of Microchip Technology by 14,030.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 1,403 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at about $116,000. Spirit of America Management Corp NY lifted its holdings in shares of Microchip Technology by 95.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 2,050 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Homrich & Berg purchased a new stake in shares of Microchip Technology in the 2nd quarter valued at about $202,000.

MCHP opened at $74.33 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.85. The company has a market cap of $17.27 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 0.90 and a beta of 1.24. Microchip Technology Inc. has a 52 week low of $60.70 and a 52 week high of $104.20.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Microchip Technology had a return on equity of 35.00% and a net margin of 0.59%. The firm’s revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. On average, equities research analysts expect that Microchip Technology Inc. will post 5.98 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.3645 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 1.96%. Microchip Technology’s dividend payout ratio is currently 28.13%.

Several analysts have recently weighed in on MCHP shares. Rosenblatt Securities reissued a “buy” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Sunday, August 12th. Nomura reduced their target price on Microchip Technology from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, August 10th. BidaskClub raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Cfra reissued a “buy” rating and issued a $110.00 target price on shares of Microchip Technology in a report on Wednesday, September 19th. Finally, Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Microchip Technology currently has an average rating of “Buy” and an average target price of $104.42.

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Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

See Also: Intrinsic Value

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

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