Calamos Advisors LLC Sells 63,310,523 Shares of Microchip Technology Incorporated (MCHP)
Calamos Advisors LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 99.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 210,857 shares of the semiconductor company’s stock after selling 63,310,523 shares during the quarter. Calamos Advisors LLC owned 0.09% of Microchip Technology worth $16,274,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MCHP. Calamos Wealth Management LLC grew its stake in shares of Microchip Technology by 0.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 45,255 shares of the semiconductor company’s stock valued at $3,493,000 after acquiring an additional 300 shares during the period. Atlantic Trust Group LLC grew its stake in shares of Microchip Technology by 3.7% during the 2nd quarter. Atlantic Trust Group LLC now owns 388,740 shares of the semiconductor company’s stock valued at $30,002,000 after acquiring an additional 13,891 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in shares of Microchip Technology by 0.6% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 16,221 shares of the semiconductor company’s stock valued at $1,252,000 after acquiring an additional 100 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Microchip Technology by 2.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 128,074 shares of the semiconductor company’s stock valued at $9,885,000 after acquiring an additional 2,511 shares during the period. Finally, Intercontinental Wealth Advisors LLC bought a new position in shares of Microchip Technology during the 2nd quarter valued at approximately $237,000. Institutional investors and hedge funds own 98.67% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This story was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://theolympiareport.com/2017/09/06/calamos-advisors-llc-sells-63310523-shares-of-microchip-technology-incorporated-mchp.html.
A number of brokerages recently issued reports on MCHP. B. Riley reiterated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 4th. Mizuho restated a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Microchip Technology in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $94.00 price target (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Raymond James Financial, Inc. began coverage on Microchip Technology in a research note on Friday, June 16th. They issued an “outperform” rating and a $95.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Microchip Technology has an average rating of “Buy” and a consensus price target of $88.80.
Shares of Microchip Technology Incorporated (MCHP) opened at 85.685 on Wednesday. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 46.166 and a beta of 1.04. The company’s 50-day moving average price is $82.78 and its 200 day moving average price is $78.62. Microchip Technology Incorporated has a 12-month low of $57.52 and a 12-month high of $88.00.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The company had revenue of $972.10 million for the quarter, compared to analyst estimates of $944.87 million. During the same period in the prior year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 21.6% on a year-over-year basis. On average, equities analysts predict that Microchip Technology Incorporated will post $5.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were paid a $0.362 dividend. 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 1.67%. The ex-dividend date of this dividend was Thursday, August 17th. Microchip Technology’s dividend payout ratio is currently 77.54%.
In related news, CFO James Eric Bjornholt sold 2,453 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $200,876.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephen V. Drehobl sold 3,076 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the transaction, the vice president now directly owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,829 shares of company stock worth $561,905. Insiders own 2.13% of the company’s stock.
About Microchip Technology
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.
Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP).
Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.