Optimum Investment Advisors Acquires Shares of 5,775 Microchip Technology Inc. (MCHP)

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.

A number of equities research analysts have commented on MCHP shares. Jefferies Group reiterated a “buy” rating and issued a $106.00 price target on shares of Microchip Technology in a research note on Thursday, October 19th. SunTrust Banks restated a “hold” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, October 12th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price objective on shares of Microchip Technology in a research note on Wednesday, September 20th. Argus started coverage on Microchip Technology in a research note on Friday, October 6th. They issued a “buy” rating and a $106.00 price objective for the company. Finally, B. Riley restated a “buy” rating and issued a $123.00 price objective (up from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $101.18.

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%.

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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.

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

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