Microchip Technology Inc. (MCHP) Shares Sold by AMP Capital Investors Ltd

AMP Capital Investors Ltd lessened its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 17.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,260 shares of the semiconductor company’s stock after selling 13,785 shares during the period. AMP Capital Investors Ltd’s holdings in Microchip Technology were worth $5,051,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MCHP. Stephens Inc. AR raised its position in shares of Microchip Technology by 3.3% during the 2nd quarter. Stephens Inc. AR now owns 18,796 shares of the semiconductor company’s stock worth $1,710,000 after purchasing an additional 600 shares during the period. Sigma Planning Corp raised its position in shares of Microchip Technology by 12.9% during the 2nd quarter. Sigma Planning Corp now owns 5,528 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 631 shares during the period. CIBC World Markets Inc. raised its position in shares of Microchip Technology by 9.5% during the 2nd quarter. CIBC World Markets Inc. now owns 7,361 shares of the semiconductor company’s stock worth $669,000 after purchasing an additional 638 shares during the period. Greenleaf Trust raised its position in shares of Microchip Technology by 4.8% during the 2nd quarter. Greenleaf Trust now owns 14,939 shares of the semiconductor company’s stock worth $1,359,000 after purchasing an additional 690 shares during the period. Finally, Logan Capital Management Inc. raised its position in shares of Microchip Technology by 1.5% during the 3rd quarter. Logan Capital Management Inc. now owns 46,317 shares of the semiconductor company’s stock worth $3,655,000 after purchasing an additional 699 shares during the period.

In other news, CFO James Eric Bjornholt sold 1,866 shares of Microchip Technology stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $134,463.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 4,271 shares of Microchip Technology stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total value of $307,768.26. Following the transaction, the vice president now owns 17,173 shares in the company, valued at $1,237,486.38. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on MCHP. ValuEngine upgraded Microchip Technology from a “strong sell” rating to a “sell” rating in a research report on Friday, November 23rd. BidaskClub upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. BMO Capital Markets began coverage on Microchip Technology in a research report on Monday, November 12th. They set an “outperform” rating and a $92.00 price target on the stock. Jefferies Financial Group dropped their price target on Microchip Technology from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, November 8th. Finally, Nomura set a $95.00 target price on Microchip Technology and gave the company a “buy” rating in a research report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $104.42.

MCHP opened at $70.26 on Monday. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $104.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 1.04. The company has a market capitalization of $16.62 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.28.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st were given a dividend of $0.3645 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 2.08%. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.

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Microchip Technology 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.

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

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