Glenmede Trust Co. NA has raised a 19.8% stake in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) in the third quarter, according to its latest Securities and Exchange Commission filings. The institutional investor owned his 114,778 shares of the semiconductor company’s stock after he purchased an additional 18,962 shares during the quarter. Glenmede Trust Co. NA’s Microchip Technology holding was valued at $7,004,000 at the end of its most recent quarter.
A number of other hedge funds have also recently bought and sold shares of MCHP. Carl P. Sherr & Co. LLC increased his Microchip Technology stock position by 1.2% in the third quarter. Carl P. Sherr & Co. LLC owns 12,299 shares of the semiconductor company worth $751,000 after acquiring an additional 140 shares in the previous quarter. Transamerica Financial Advisors Inc. increased his Microchip Technology shareholding by 8.7% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,819 shares of the semiconductor company worth $111,000 after acquiring an additional 145 shares during the previous quarter. Avestar Capital LLC increased his Microchip Technology shareholding by 1.7% in the second quarter. Avestar Capital LLC now owns 9,929 shares of the semiconductor company worth $577,000 after acquiring an additional 163 shares during the previous quarter. Kinneret Advisory LLC increased its Microchip Technology shareholding by 2.2% in the second quarter. Kinneret Advisory LLC now owns 7,658 shares of the semiconductor company worth $445,000 after purchasing an additional 163 shares last quarter. Finally, First Commonwealth Financial Corp PA increased its Microchip Technology shareholding by 2.1% in the third quarter. First Commonwealth Financial Corp PA now owns 8,334 shares of the semiconductor company worth $509,000 after purchasing an additional 174 shares last quarter. Institutional investors and hedge funds own 89.85% of the company’s shares.
Microchip technology deals drop 0.3%
Shares of the NASDAQ MCHP fell $0.26 in midday trading on Friday to reach $78.00. His 1,491,967 shares in the company traded, with an average trading volume of 3,846,059 shares for him. Microchip Technology Incorporated hit a 12-month low of $54.33 and a 12-month high of $80.50. The company has a debt to equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 1.05. The stock has a 50-day moving average price of $73.89 and a 200-day moving average price of $68.54. The company has a market capitalization of $42.9 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.82 and a beta of 1.59.
Microchip Technology (NASDAQ:MCHP – Get Rating) last published quarterly financial data on Thursday, November 3rd. The semiconductor company reported his earnings per share of $1.39 for the quarter, beating analysts’ consensus forecast of $1.37 for him by $0.02. Microchip Technology’s net profit margin was 24.14% and return on equity was 47.90%. The company’s revenue for the quarter was $2.07 billion, compared to consensus expectations of $2.06 billion. As a group, analysts expect Microchip Technology Incorporated to post his 5.66 earnings per share this year.
Microchip technology raises dividend
The company recently announced a quarterly dividend, which was paid on Tuesday, December 6th. A dividend of $0.328 was issued to shareholders of record on Tuesday, November 22nd. This represents his $1.31 dividend and his 1.68% dividend yield on an annualized basis. The ex-dividend date for this dividend was Monday, November 21. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.30. Microchip Technology’s Dividend Payout Ratio (DPR) is 40.06%.
Insider activity at Microchip Technology
In other news, director Karlton D. Johnson sold 927 shares of Microchip Technology stock in a transaction that took place on Monday, November 7th. The shares sold at an average price of $64.54, giving him a total of $59,828.58. Following the transaction, the directors now own 1,369 shares of the Company’s stock valued at approximately $88,355.26. The sale is disclosed in legal filings with the SEC, which can be accessed at this link. His 2.00% of the shares are now owned by company insiders.
Wall Street Analyst Predicts Growth
Many analysts have their eyes on MCHP stock. UBS Group lowered its price target on Microchip Technology shares from $100.00 to $90.00 in a report on Friday, November 4. StockNews.com featured Microchip Technology in its research report on Wednesday, October 12th. They gave the stock a ‘buy’ rating.Mizuho said in a report on Friday, Nov. 4 that he lowered Microchip Technology’s price target from $75.00 to $72.00, giving the stock a ‘neutral’ rating. Did. Morgan Stanley lowered Microchip Technology’s price target from $82.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, November 4. Finally, Credit Suisse Group kicked off his Microchip Technology coverage in a report on Tuesday, November 15th. They issued a “neutral” rating and a price target of $85.00. Five analysts rated the stock with a hold rating and 15 analysts issued a buy rating on the stock. Based on MarketBeat data, Microchip Technology has an average rating of “Moderate Buy” with a consensus price target of $84.85.
Microchip Technology Profile
Microchip Technology Incorporated develops, manufactures and markets smart, connected and secure embedded control solutions in the Americas, Europe and Asia. The company offers general purpose 8-bit, 16-bit and 32-bit microcontrollers. 32-bit embedded microprocessor market. We also have specialized microcontrollers for automotive, industrial, computing, communications, lighting, power, motor control, human machine interface, security, wired and wireless connectivity applications.
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