RFG Advisory LLC Has $372,000 Stake in Microchip Technology Inc. (NASDAQ:MCHP)

RFG Advisory LLC boosted its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,551 shares of the semiconductor company’s stock after purchasing an additional 106 shares during the period. RFG Advisory LLC’s holdings in Microchip Technology were worth $372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Microchip Technology by 16.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,992 shares of the semiconductor company’s stock valued at $4,074,000 after purchasing an additional 6,480 shares during the period. Motco increased its holdings in Microchip Technology by 1.3% in the third quarter. Motco now owns 63,665 shares of the semiconductor company’s stock valued at $5,915,000 after purchasing an additional 806 shares during the period. Bremer Bank National Association increased its holdings in Microchip Technology by 8.8% in the third quarter. Bremer Bank National Association now owns 14,674 shares of the semiconductor company’s stock valued at $1,363,000 after purchasing an additional 1,189 shares during the period. Eagle Asset Management Inc. increased its holdings in Microchip Technology by 5.5% in the third quarter. Eagle Asset Management Inc. now owns 982,850 shares of the semiconductor company’s stock valued at $91,316,000 after purchasing an additional 51,466 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Microchip Technology by 39.5% in the third 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 during the period.

In related news, CFO James Eric Bjornholt sold 1,958 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $91.15, for a total value of $178,471.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Richard J. Simoncic sold 3,536 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $91.15, for a total transaction of $322,306.40. Following the completion of the transaction, the vice president now directly owns 18,452 shares in the company, valued at approximately $1,681,899.80. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

A number of analysts recently weighed in on the company. Needham & Company LLC increased their price objective on Microchip Technology to $110.00 and gave the company an “in-line” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on Microchip Technology from $102.00 to $109.00 and gave the stock an “equal weight” rating in a report on Tuesday. SunTrust Banks increased their price target on Microchip Technology from $113.00 to $119.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. ValuEngine upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.29.

Shares of MCHP opened at $110.26 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.90 and a quick ratio of 0.60. The stock has a 50-day moving average of $105.38 and a 200-day moving average of $95.49. The company has a market cap of $26.13 billion, a PE ratio of 72.07, a P/E/G ratio of 1.84 and a beta of 1.43. Microchip Technology Inc. has a one year low of $74.95 and a one year high of $112.47.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.13. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Microchip Technology had a return on equity of 25.60% and a net margin of 7.15%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. Analysts expect that Microchip Technology Inc. will post 4.9 EPS for the current fiscal year.

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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