Godsey & Gibb Associates Sells 4,478 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

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Godsey & Gibb Associates lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,223 shares of the semiconductor company’s stock after selling 4,478 shares during the period. Microchip Technology comprises 2.8% of Godsey & Gibb Associates’ holdings, making the stock its 6th largest holding. Godsey & Gibb Associates owned 0.07% of Microchip Technology worth $18,417,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MCHP. Jacobi Capital Management LLC grew its position in shares of Microchip Technology by 18,027.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 47,675 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 47,412 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Microchip Technology during the 3rd quarter worth approximately $30,000. Keebeck Wealth Management LLC acquired a new position in shares of Microchip Technology during the 2nd quarter worth approximately $47,000. Shine Investment Advisory Services Inc. grew its position in shares of Microchip Technology by 70.2% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 468 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 193 shares in the last quarter. Finally, Price Wealth LLC grew its position in shares of Microchip Technology by 851.9% during the 3rd quarter. Price Wealth LLC now owns 514 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 460 shares in the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

Shares of MCHP stock traded up $3.47 during trading hours on Friday, hitting $130.98. 6,545,684 shares of the company’s stock traded hands, compared to its average volume of 3,035,342. The stock’s 50 day simple moving average is $114.15 and its 200 day simple moving average is $104.25. The stock has a market cap of $34.10 billion, a PE ratio of 55.97, a price-to-earnings-growth ratio of 1.95 and a beta of 1.62. Microchip Technology Incorporated has a 12 month low of $53.15 and a 12 month high of $135.29. The company has a quick ratio of 0.57, a current ratio of 0.83 and a debt-to-equity ratio of 1.41.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, November 5th. The semiconductor company reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.13. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a net margin of 12.23% and a return on equity of 24.31%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. As a group, equities research analysts expect that Microchip Technology Incorporated will post 5.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be paid a dividend of $0.3685 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, November 19th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio (DPR) is currently 28.38%.

Several analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Microchip Technology from $131.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. BMO Capital Markets increased their price target on shares of Microchip Technology from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and increased their price target for the stock from $128.00 to $134.00 in a research report on Friday, November 6th. Zacks Investment Research lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research report on Thursday, November 12th. Finally, B. Riley increased their price target on shares of Microchip Technology from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.79.

In related news, CFO James Eric Bjornholt sold 2,893 shares of Microchip Technology stock in a transaction on Monday, August 24th. The shares were sold at an average price of $108.39, for a total transaction of $313,572.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard J. Simoncic sold 3,802 shares of Microchip Technology stock in a transaction on Monday, August 24th. The stock was sold at an average price of $108.39, for a total transaction of $412,098.78. Following the transaction, the vice president now directly owns 19,530 shares of the company’s stock, valued at approximately $2,116,856.70. The disclosure for this sale can be found here. Insiders have sold 10,599 shares of company stock valued at $1,202,988 in the last three months. 2.15% of the stock is owned by insiders.

About Microchip Technology

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

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

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