Candriam Luxembourg S.C.A. Has $37.79 Million Stake in Microchip Technology Inc. (MCHP)
Candriam Luxembourg S.C.A. decreased its position in Microchip Technology Inc. (NASDAQ:MCHP) by 20.0% during the 4th quarter, Holdings Channel reports. The firm owned 430,016 shares of the semiconductor company’s stock after selling 107,447 shares during the quarter. Microchip Technology makes up 0.7% of Candriam Luxembourg S.C.A.’s investment portfolio, making the stock its 27th biggest holding. Candriam Luxembourg S.C.A.’s holdings in Microchip Technology were worth $37,792,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Zions Bancorporation grew its holdings in Microchip Technology by 215.5% during the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 836 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in Microchip Technology during the 3rd quarter worth about $121,000. Valeo Financial Advisors LLC bought a new stake in Microchip Technology during the 3rd quarter worth about $146,000. Benjamin F. Edwards & Company Inc. grew its holdings in Microchip Technology by 608.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 1,807 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in Microchip Technology during the 4th quarter worth about $198,000.
A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Piper Jaffray Companies assumed coverage on shares of Microchip Technology in a report on Monday, December 18th. They set an “overweight” rating and a $100.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Microchip Technology from $120.00 to $130.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Friday, January 5th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective (up previously from $94.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $102.35.
Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. sell-side analysts expect that Microchip Technology Inc. will post 5.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be given a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 149.49%.
In related news, VP Stephen V. Drehobl sold 2,852 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,801 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The disclosure for this sale can be found here. Company 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.
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