Qube Research & Technologies Ltd acquired a new stake in Microchip Technology Inc. (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,296 shares of the semiconductor company’s stock, valued at approximately $1,760,000.
A number of other institutional investors have also made changes to their positions in MCHP. Dimensional Fund Advisors LP raised its stake in Microchip Technology by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 958,265 shares of the semiconductor company’s stock worth $68,924,000 after purchasing an additional 112,204 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Microchip Technology in the 1st quarter valued at approximately $279,000. Retirement Systems of Alabama raised its position in shares of Microchip Technology by 1.6% in the 1st quarter. Retirement Systems of Alabama now owns 110,343 shares of the semiconductor company’s stock valued at $9,154,000 after buying an additional 1,714 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Microchip Technology by 3.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 53,971 shares of the semiconductor company’s stock valued at $4,477,000 after buying an additional 2,000 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Microchip Technology by 10.0% in the 1st quarter. IFM Investors Pty Ltd now owns 15,003 shares of the semiconductor company’s stock valued at $1,245,000 after buying an additional 1,363 shares in the last quarter.
In related news, VP James Eric Bjornholt sold 2,188 shares of Microchip Technology stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total transaction of $177,206.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.21% of the company’s stock.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.16. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 EPS. Equities research analysts forecast that Microchip Technology Inc. will post 5.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.366 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 annualized dividend and a dividend yield of 1.66%. Microchip Technology’s payout ratio is 24.01%.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Mizuho boosted their target price on shares of Microchip Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BMO Capital Markets dropped their target price on shares of Microchip Technology from $118.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Piper Jaffray Companies set a $110.00 target price on shares of Microchip Technology and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, B. Riley boosted their target price on shares of Microchip Technology from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Microchip Technology has a consensus rating of “Hold” and an average price target of $101.76.
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.
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