Segall Bryant & Hamill LLC Raises Holdings in Microchip Technology Incorporated (MCHP)

Segall Bryant & Hamill LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,815 shares of the semiconductor company’s stock after buying an additional 122,491 shares during the quarter. Microchip Technology comprises about 1.3% of Segall Bryant & Hamill LLC’s holdings, making the stock its 11th largest position. Segall Bryant & Hamill LLC owned about 0.27% of Microchip Technology worth $57,263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amica Retiree Medical Trust purchased a new position in shares of Microchip Technology in the third quarter valued at $121,000. Smithfield Trust Co. grew its position in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of 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 valued at $189,000 after purchasing an additional 1,807 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Microchip Technology by 1.4% in the second quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 29 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of Microchip Technology in the third quarter valued at $205,000.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Microchip Technology Incorporated (NASDAQ:MCHP) opened at $86.31 on Thursday. 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 quick ratio of 2.71 and a current ratio of 3.33. The company has a market capitalization of $20,164.98, a PE ratio of 18.26, a P/E/G ratio of 1.38 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue was up 16.2% compared to the same quarter last year. equities research analysts predict that Microchip Technology Incorporated will post 5.12 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were paid a dividend of $0.3625 per share. The ex-dividend date was Monday, November 20th. This represents a $1.45 annualized dividend and a yield of 1.68%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 58.00%.

Several equities analysts have recently weighed in on the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Tuesday, November 7th. Needham & Company LLC lifted their price target on Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (up from $94.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. B. Riley reiterated a “buy” rating and issued a $123.00 price target (up from $120.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Finally, Jefferies Group lifted their price target on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $99.41.

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Microchip Technology Company Profile

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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