Robecosam AG Sells 5,000 Shares of Microchip Technology Incorporated (MCHP)

Robecosam AG lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,000 shares of the semiconductor company’s stock after selling 5,000 shares during the quarter. Robecosam AG’s holdings in Microchip Technology were worth $9,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MCHP. Grove Bank & Trust grew its holdings in Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 190 shares during the period. Smithfield Trust Co. grew its holdings in Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 7 shares during the period. Commonwealth Bank of Australia grew its holdings in Microchip Technology by 1.4% in the second quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 29 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Microchip Technology by 608.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 1,807 shares during the period. Finally, Dearborn Partners LLC purchased a new stake in Microchip Technology in the second quarter worth about $201,000.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at $90.40 on Friday. Microchip Technology Incorporated has a fifty-two week low of $60.77 and a fifty-two week high of $95.92. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. The company has a market cap of $21,145.05, a P/E ratio of 19.15, a PEG ratio of 1.45 and a beta of 1.05.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. sell-side analysts forecast that Microchip Technology Incorporated will post 5.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.3625 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.60%. Microchip Technology’s dividend payout ratio is presently 58.00%.

MCHP has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Tuesday, September 19th. B. Riley restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Wednesday, August 9th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Credit Suisse Group restated a “buy” rating on shares of Microchip Technology in a report on Friday, August 4th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $94.00 price objective (up previously from $92.00) on shares of Microchip Technology in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $99.41.

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About Microchip Technology

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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