Villere ST Denis J & Co. LLC Has $14.05 Million Stock Holdings in Microchip Technology Inc. (NASDAQ:MCHP)

Villere ST Denis J & Co. LLC decreased its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 151,260 shares of the semiconductor company’s stock after selling 660 shares during the period. Microchip Technology comprises approximately 0.9% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 25th largest position. Villere ST Denis J & Co. LLC’s holdings in Microchip Technology were worth $14,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. Meeder Asset Management Inc. acquired a new position in Microchip Technology during the second quarter worth $37,000. Spectrum Management Group Inc. raised its holdings in Microchip Technology by 127.1% during the second quarter. Spectrum Management Group Inc. now owns 452 shares of the semiconductor company’s stock worth $39,000 after buying an additional 253 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Microchip Technology during the second quarter worth $40,000. TCI Wealth Advisors Inc. raised its holdings in Microchip Technology by 118.0% during the third quarter. TCI Wealth Advisors Inc. now owns 447 shares of the semiconductor company’s stock worth $42,000 after buying an additional 242 shares during the last quarter. Finally, Coastal Investment Advisors Inc. raised its holdings in Microchip Technology by 74.9% during the second quarter. Coastal Investment Advisors Inc. now owns 502 shares of the semiconductor company’s stock worth $43,000 after buying an additional 215 shares during the last quarter.

In other Microchip Technology news, VP Richard J. Simoncic sold 3,437 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total value of $304,518.20. Following the completion of the transaction, the vice president now owns 18,178 shares of the company’s stock, valued at approximately $1,610,570.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 1,937 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total value of $171,618.20. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Microchip Technology stock traded down $1.10 during mid-day trading on Tuesday, reaching $96.68. The stock had a trading volume of 915,475 shares, compared to its average volume of 1,822,711. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.73 and a beta of 1.41. The company has a 50-day moving average price of $92.47 and a two-hundred day moving average price of $90.13. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $101.35. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.93 and a quick ratio of 0.63.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.16. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm earned $1.61 EPS. Microchip Technology’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Microchip Technology Inc. will post 5.24 earnings per share for the current fiscal year.

Several research analysts have weighed in on MCHP shares. Needham & Company LLC set a $100.00 price objective on shares of Microchip Technology and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cfra set a $100.00 price objective on shares of Microchip Technology and gave the stock a “hold” rating in a report on Saturday, September 7th. ValuEngine downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price objective on shares of Microchip Technology in a report on Wednesday, August 7th. Finally, Piper Jaffray Companies set a $110.00 price objective on shares of Microchip Technology and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.62.

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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