11,213 Shares in Microchip Technology Incorporated (MCHP) Acquired by Oribel Capital Management LP

Oribel Capital Management LP acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,213 shares of the semiconductor company’s stock, valued at approximately $1,007,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Amica Retiree Medical Trust acquired a new stake in shares of Microchip Technology in the 3rd quarter worth about $121,000. Smithfield Trust Co. raised its holdings in shares of Microchip Technology by 0.4% in the 2nd quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Microchip Technology by 1.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 29 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Microchip Technology by 608.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 1,807 shares during the last quarter. Finally, Dearborn Partners LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter worth about $201,000.

In other news, CFO James Eric Bjornholt sold 1,801 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now directly owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

A number of equities research analysts recently weighed in on MCHP shares. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, September 8th. Morgan Stanley restated an “overweight” rating and issued a $94.00 target price on shares of Microchip Technology in a report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and issued a $94.00 target price on shares of Microchip Technology in a report on Thursday, September 28th. ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Finally, Zacks Investment Research lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $99.41.

Shares of Microchip Technology Incorporated (NASDAQ MCHP) opened at $87.39 on Friday. Microchip Technology Incorporated has a 52-week low of $62.21 and a 52-week high of $95.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. The stock has a market cap of $20,164.98, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. equities analysts predict that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were given a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.66%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, November 20th. Microchip Technology’s dividend payout ratio is presently 58.00%.

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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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