Massachusetts Financial Services Co. MA Has $241.14 Million Position in Microchip Technology Inc. (NASDAQ:MCHP)

Massachusetts Financial Services Co. MA lessened its position in Microchip Technology Inc. (NASDAQ:MCHP) by 1.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,595,427 shares of the semiconductor company’s stock after selling 46,875 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Microchip Technology were worth $241,142,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MCHP. Tower Research Capital LLC TRC boosted its position in shares of Microchip Technology by 267.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,857 shares of the semiconductor company’s stock valued at $1,102,000 after purchasing an additional 8,626 shares in the last quarter. Motco boosted its position in shares of Microchip Technology by 1.3% during the 3rd quarter. Motco now owns 63,665 shares of the semiconductor company’s stock valued at $5,915,000 after purchasing an additional 806 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of Microchip Technology by 0.3% during the 3rd quarter. GW&K Investment Management LLC now owns 247,437 shares of the semiconductor company’s stock valued at $22,990,000 after purchasing an additional 704 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Microchip Technology by 39.5% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,710 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 768 shares in the last quarter. Finally, Carillon Tower Advisers Inc. boosted its position in shares of Microchip Technology by 7.3% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 765,999 shares of the semiconductor company’s stock valued at $71,169,000 after purchasing an additional 52,278 shares in the last quarter.

In other news, VP Richard J. Simoncic sold 3,437 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total value of $304,518.20. Following the transaction, the vice president now owns 18,178 shares in the company, valued at $1,610,570.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,937 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 corporate insiders.

NASDAQ:MCHP traded up $0.45 on Wednesday, hitting $94.13. The stock had a trading volume of 44,566 shares, compared to its average volume of 2,563,227. The business’s fifty day moving average is $94.39 and its 200 day moving average is $90.15. The company has a market cap of $22.99 billion, a PE ratio of 15.48, a P/E/G ratio of 2.21 and a beta of 1.44. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 1.57. Microchip Technology Inc. has a 52 week low of $65.67 and a 52 week high of $101.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.13. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. Microchip Technology had a return on equity of 25.60% and a net margin of 7.15%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 earnings per share. Equities analysts predict that Microchip Technology Inc. will post 4.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.366 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.46 annualized dividend and a yield of 1.56%. Microchip Technology’s payout ratio is currently 24.01%.

Several brokerages recently commented on MCHP. Needham & Company LLC upped their target price on Microchip Technology to $110.00 and gave the company an “in-line” rating in a research report on Wednesday, November 6th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Co cut their target price on Microchip Technology from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities restated a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, ValuEngine upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Buy” and a consensus price target of $105.66.

About Microchip Technology

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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