Los Angeles Capital Management LLC Acquires 73,535 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Los Angeles Capital Management LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 792.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,819 shares of the semiconductor company’s stock after purchasing an additional 73,535 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Microchip Technology were worth $7,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MCHP. Commonwealth Equity Services LLC boosted its stake in shares of Microchip Technology by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 135,845 shares of the semiconductor company’s stock worth $10,603,000 after acquiring an additional 10,702 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Microchip Technology by 4.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 39,162 shares of the semiconductor company’s stock worth $3,057,000 after purchasing an additional 1,769 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Microchip Technology by 4.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 293,870 shares of the semiconductor company’s stock valued at $22,937,000 after purchasing an additional 13,714 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Microchip Technology by 7.1% during the third quarter. Stratos Wealth Partners LTD. now owns 5,799 shares of the semiconductor company’s stock valued at $453,000 after purchasing an additional 383 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Microchip Technology by 2.1% in the third quarter. Brown Advisory Inc. now owns 104,768 shares of the semiconductor company’s stock valued at $8,177,000 after purchasing an additional 2,201 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 2.1 %

Shares of MCHP stock opened at $91.36 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The firm has a fifty day moving average of $88.05 and a 200-day moving average of $85.04. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.63. The stock has a market cap of $49.37 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 2.79 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCHP shares. Susquehanna reiterated a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 30th. UBS Group decreased their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Thursday, January 18th. Finally, TD Cowen upped their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.75.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.