Mirador Capital Partners LP Purchases New Stake in Microchip Technology Inc. (NASDAQ:MCHP)

Mirador Capital Partners LP purchased a new stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,355 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other large investors have also bought and sold shares of the stock. Northern Trust Corp increased its position in Microchip Technology by 1.7% in the 1st quarter. Northern Trust Corp now owns 3,362,490 shares of the semiconductor company’s stock worth $278,952,000 after purchasing an additional 55,625 shares during the last quarter. Coho Partners Ltd. increased its position in Microchip Technology by 5.1% in the 1st quarter. Coho Partners Ltd. now owns 1,612,192 shares of the semiconductor company’s stock worth $133,747,000 after purchasing an additional 78,339 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Microchip Technology by 0.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,441,120 shares of the semiconductor company’s stock worth $119,555,000 after purchasing an additional 5,982 shares during the last quarter. TD Asset Management Inc. increased its position in Microchip Technology by 2.7% in the 1st quarter. TD Asset Management Inc. now owns 1,199,478 shares of the semiconductor company’s stock worth $99,508,000 after purchasing an additional 31,703 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Microchip Technology by 30.2% in the 1st quarter. First Trust Advisors LP now owns 1,129,588 shares of the semiconductor company’s stock worth $93,711,000 after purchasing an additional 261,717 shares during the last quarter.

In related news, CFO James Eric Bjornholt sold 1,937 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $171,618.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard J. Simoncic sold 3,437 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $304,518.20. Following the sale, the vice president now owns 18,178 shares of the company’s stock, valued at approximately $1,610,570.80. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the company. Zacks Investment Research lowered Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research report on Thursday, July 25th. BMO Capital Markets dropped their target price on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Longbow Research assumed coverage on Microchip Technology in a research report on Tuesday, July 9th. They issued a “neutral” rating and a $87.93 target price on the stock. Needham & Company LLC set a $100.00 target price on Microchip Technology and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Microchip Technology currently has a consensus rating of “Hold” and a consensus target price of $101.76.

Shares of MCHP traded down $5.00 during trading hours on Friday, hitting $84.58. 1,987,713 shares of the company were exchanged, compared to its average volume of 2,423,069. The company has a market cap of $21.32 billion, a PE ratio of 13.91, a PEG ratio of 1.37 and a beta of 1.41. The firm’s 50 day moving average is $90.84 and its 200-day moving average is $88.82. Microchip Technology Inc. has a 52 week low of $60.70 and a 52 week high of $101.35. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.63 and a current ratio of 0.93.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.16. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Microchip Technology Inc. will post 5.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.366 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.46 annualized dividend and a yield of 1.73%. Microchip Technology’s dividend payout ratio is presently 24.01%.

Microchip Technology Profile

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.

Recommended Story: What is Cost of Goods Sold (COGS)?

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

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.