Microchip Technology Incorporated (MCHP) Shares Bought by Commerce Bank

Commerce Bank raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,779 shares of the semiconductor company’s stock after buying an additional 1,124 shares during the quarter. Commerce Bank’s holdings in Microchip Technology were worth $5,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in shares of Microchip Technology by 2,959.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock worth $623,093,000 after purchasing an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Microchip Technology by 66.5% during the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after purchasing an additional 2,507,707 shares in the last quarter. Fred Alger Management Inc. grew its holdings in shares of Microchip Technology by 80.9% during the 2nd quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after purchasing an additional 1,497,699 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Microchip Technology by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after purchasing an additional 1,042,622 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Microchip Technology by 75.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after purchasing an additional 1,033,992 shares in the last quarter.

In other news, VP Stephen V. Drehobl sold 3,076 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at $1,167,997.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $200,876.17. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

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Shares of Microchip Technology Incorporated (NASDAQ MCHP) traded up $1.19 during trading on Friday, hitting $90.78. The company had a trading volume of 1,785,800 shares, compared to its average volume of 2,544,512. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a twelve month low of $60.77 and a twelve month high of $95.92. The firm has a market capitalization of $20,955.58, a PE ratio of 18.98, a PEG ratio of 1.43 and a beta of 1.05.

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

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

MCHP has been the topic of several recent research reports. BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $94.00 price target on shares of Microchip Technology in a research note on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Tuesday, September 19th. B. Riley reaffirmed a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Wednesday, August 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Friday, August 4th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $99.41.

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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