Gateway Investment Advisers LLC Has $28.22 Million Holdings in Microchip Technology Inc. (MCHP)

Gateway Investment Advisers LLC raised its position in Microchip Technology Inc. (NASDAQ:MCHP) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,108 shares of the semiconductor company’s stock after purchasing an additional 12,060 shares during the period. Gateway Investment Advisers LLC’s holdings in Microchip Technology were worth $28,219,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 acquiring an additional 1,042,622 shares during the last quarter. State Street Corp lifted its holdings in shares of Microchip Technology by 0.7% during the 2nd quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock worth $690,652,000 after acquiring an additional 58,577 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Microchip Technology by 7.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock worth $781,389,000 after acquiring an additional 630,311 shares during the last quarter. Fred Alger Management Inc. lifted 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 acquiring an additional 1,497,699 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Microchip Technology by 1.8% during the 2nd quarter. Northern Trust Corp now owns 3,091,642 shares of the semiconductor company’s stock worth $238,614,000 after acquiring an additional 53,227 shares during the last quarter.

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

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray Companies assumed coverage on shares of Microchip Technology in a report on Monday, December 18th. They set an “overweight” rating and a $100.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. ValuEngine downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Jefferies Group lifted their price objective on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $101.24.

Microchip Technology Inc. (MCHP) opened at $96.02 on Thursday. The company has a market cap of $21,830.39, a price-to-earnings ratio of 38.41, a P/E/G ratio of 1.23 and a beta of 1.00. Microchip Technology Inc. has a 52-week low of $65.03 and a 52-week high of $96.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.

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

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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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