Quantbot Technologies LP Reduces Position in Microchip Technology Inc. (MCHP)

Quantbot Technologies LP cut its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 78.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,378 shares of the semiconductor company’s stock after selling 27,597 shares during the period. Quantbot Technologies LP’s holdings in Microchip Technology were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its stake in shares of Microchip Technology by 14,030.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 1,403 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $116,000. Spirit of America Management Corp NY lifted its stake in shares of Microchip Technology by 95.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 2,050 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 1,000 shares during the last quarter. Homrich & Berg bought a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $202,000. Finally, Wrapmanager Inc. bought a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $206,000.

Several equities research analysts have recently issued reports on the company. Cfra reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Microchip Technology in a research note on Wednesday, September 19th. BidaskClub raised Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Needham & Company LLC decreased their price target on Microchip Technology to $100.00 and set a “strong-buy” rating for the company in a research note on Friday, October 26th. Nomura set a $95.00 price target on Microchip Technology and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, Jefferies Financial Group decreased their price target on Microchip Technology from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $104.42.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,866 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $134,463.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen V. Drehobl sold 4,271 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total value of $307,768.26. Following the transaction, the vice president now owns 17,173 shares in the company, valued at $1,237,486.38. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Shares of MCHP stock opened at $70.26 on Friday. Microchip Technology Inc. has a 52-week low of $60.70 and a 52-week high of $104.20. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.04 and a quick ratio of 0.64. The company has a market cap of $17.36 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.28.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.65 by $0.03. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Microchip Technology had a return on equity of 35.00% and a net margin of 0.59%. Microchip Technology’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Research analysts expect that Microchip Technology Inc. will post 5.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Wednesday, November 21st were issued a dividend of $0.3645 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 28.13%.

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About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

See Also: Market Capitalization

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

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