BKD Wealth Advisors LLC boosted its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,917 shares of the semiconductor company’s stock after purchasing an additional 1,982 shares during the period. BKD Wealth Advisors LLC’s holdings in Microchip Technology were worth $3,623,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCHP. Psagot Investment House Ltd. bought a new position in shares of Microchip Technology in the 2nd quarter valued at $125,000. Canada Pension Plan Investment Board lifted its stake in shares of Microchip Technology by 14,030.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 1,403 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Microchip Technology by 9,097.1% in the 1st quarter. Summit Trail Advisors LLC now owns 138,325 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 136,821 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of Microchip Technology in the 2nd quarter valued at $200,000. Finally, Homrich & Berg bought a new position in shares of Microchip Technology in the 2nd quarter valued at $202,000.
NASDAQ:MCHP traded down $0.84 during trading hours on Tuesday, hitting $66.86. 35,236 shares of the company were exchanged, compared to its average volume of 2,998,093. The firm has a market cap of $18.59 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.83 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 1.96. Microchip Technology Inc. has a one year low of $66.82 and a one year high of $104.20.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.13. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. Microchip Technology’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, equities research analysts expect that Microchip Technology Inc. will post 6.51 EPS for the current year.
In other Microchip Technology news, VP Stephen V. Drehobl sold 3,998 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the completion of the sale, the vice president now directly owns 16,931 shares in the company, valued at approximately $1,427,791.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Ganesh Moorthy purchased 12,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average price of $84.10 per share, with a total value of $1,009,200.00. The disclosure for this purchase can be found here. 2.13% of the stock is owned by company insiders.
A number of research analysts have recently commented on MCHP shares. Rosenblatt Securities reiterated a “buy” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Sunday, August 12th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. ValuEngine cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. KeyCorp dropped their price target on Microchip Technology from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, August 10th. Finally, Morgan Stanley dropped their price target on Microchip Technology from $98.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.11.
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; 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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