Optimum Investment Advisors acquired a new position in shares of Microchip Technology Inc. (NASDAQ:MCHP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,775 shares of the semiconductor company’s stock, valued at approximately $518,000.
Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Principal Financial Group Inc. lifted its stake 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 during the last quarter. Fox Run Management L.L.C. raised its stake in Microchip Technology by 248.8% in the third quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock valued at $1,347,000 after buying an additional 10,700 shares during the last quarter. 361 Capital LLC raised its stake in Microchip Technology by 35.3% in the second quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock valued at $3,769,000 after buying an additional 12,730 shares during the last quarter. Norinchukin Bank The raised its stake in Microchip Technology by 13.2% in the second quarter. Norinchukin Bank The now owns 15,920 shares of the semiconductor company’s stock valued at $1,229,000 after buying an additional 1,857 shares during the last quarter. Finally, HPM Partners LLC raised its stake in Microchip Technology by 76.3% in the second quarter. HPM Partners LLC now owns 17,185 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 7,437 shares during the last quarter.
In related news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Shares of Microchip Technology Inc. (NASDAQ:MCHP) traded down $0.73 on Friday, reaching $87.88. The company’s stock had a trading volume of 904,040 shares, compared to its average volume of 1,705,875. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. Microchip Technology Inc. has a one year low of $62.21 and a one year high of $95.92. The firm has a market capitalization of $20,726.36, a price-to-earnings ratio of 35.15, a P/E/G ratio of 1.42 and a beta of 1.00.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the 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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company earned $0.94 earnings per share. Microchip Technology’s quarterly revenue was up 16.2% compared to the same quarter last year. analysts anticipate that Microchip Technology Inc. will post 5.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were paid a $0.3625 dividend. The ex-dividend date of this dividend was Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.65%. Microchip Technology’s payout ratio is currently 58.00%.
Microchip Technology 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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