Riverhead Capital Management LLC Has $1.95 Million Position in Microchip Technology (MCHP)

Riverhead Capital Management LLC boosted its position in shares of Microchip Technology (NASDAQ:MCHP) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,318 shares of the semiconductor company’s stock after acquiring an additional 2,891 shares during the period. Riverhead Capital Management LLC’s holdings in Microchip Technology were worth $1,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Westchester Capital Management Inc. lifted its position in Microchip Technology by 0.7% during the fourth quarter. Westchester Capital Management Inc. now owns 104,009 shares of the semiconductor company’s stock valued at $9,140,000 after acquiring an additional 765 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Microchip Technology during the fourth quarter valued at approximately $2,577,000. State of Alaska Department of Revenue lifted its position in Microchip Technology by 176.3% during the fourth quarter. State of Alaska Department of Revenue now owns 32,467 shares of the semiconductor company’s stock valued at $2,851,000 after acquiring an additional 20,717 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Microchip Technology by 33.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 344,263 shares of the semiconductor company’s stock valued at $30,254,000 after acquiring an additional 86,077 shares during the last quarter. Finally, Brookmont Capital Management lifted its position in Microchip Technology by 34.4% during the fourth quarter. Brookmont Capital Management now owns 67,492 shares of the semiconductor company’s stock valued at $5,931,000 after acquiring an additional 17,280 shares during the last quarter.

NASDAQ MCHP opened at $92.80 on Friday. The firm has a market capitalization of $21.75 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.14 and a beta of 1.08. Microchip Technology has a 12-month low of $75.80 and a 12-month high of $101.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.43.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.13. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $984.80 million. Microchip Technology had a net margin of 6.41% and a return on equity of 38.62%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. equities analysts anticipate that Microchip Technology will post 5.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Investors of record on Monday, May 21st will be issued a dividend of $0.3635 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, May 18th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36.

In related news, Director Esther Johnson sold 2,275 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total transaction of $222,722.50. Following the completion of the transaction, the director now owns 6,081 shares of the company’s stock, valued at $595,329.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mitchell R. Little sold 4,159 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $84.14, for a total transaction of $349,938.26. Following the transaction, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $1,326,635.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,667 shares of company stock valued at $3,132,552. 2.13% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently commented on the stock. Stifel Nicolaus reissued an “average” rating and set a $112.00 target price on shares of Microchip Technology in a research report on Tuesday, March 6th. Goldman Sachs raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.57 to $108.00 in a research report on Thursday, March 8th. Rosenblatt Securities reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, March 6th. BidaskClub cut shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $110.00 in a research report on Monday, March 5th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Microchip Technology has a consensus rating of “Buy” and a consensus target price of $104.61.

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; 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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