Amica Pension Fund Board of Trustees Invests $793,000 in Microchip Technology Incorporated (MCHP) Stock
Amica Pension Fund Board of Trustees acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,832 shares of the semiconductor company’s stock, valued at approximately $793,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Aperio Group LLC increased its holdings in shares of Microchip Technology by 25.0% during the 2nd quarter. Aperio Group LLC now owns 92,587 shares of the semiconductor company’s stock worth $7,146,000 after buying an additional 18,533 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Microchip Technology during the 2nd quarter worth approximately $627,000. ING Groep NV acquired a new stake in shares of Microchip Technology during the 2nd quarter worth approximately $326,000. Cypress Funds LLC acquired a new stake in shares of Microchip Technology during the 2nd quarter worth approximately $30,718,000. Finally, Oakmont Corp acquired a new stake in shares of Microchip Technology during the 2nd quarter worth approximately $39,945,000.
Microchip Technology Incorporated (MCHP) opened at $90.97 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. Microchip Technology Incorporated has a 1 year low of $60.77 and a 1 year high of $95.92. The company has a market cap of $21,145.05, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. equities research analysts forecast that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 58.00%.
A number of analysts have recently issued reports on MCHP shares. Needham & Company LLC restated a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, September 8th. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Morgan Stanley downgraded shares of Microchip Technology from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $106.00 price objective on shares of Microchip Technology in a research report on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Buy” and an average price target of $99.41.
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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