Catalyst Capital Advisors LLC Has $11.19 Million Stake in Microchip Technology Incorporated (MCHP)
Catalyst Capital Advisors LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,000 shares of the semiconductor company’s stock after buying an additional 8,000 shares during the period. Microchip Technology comprises about 0.5% of Catalyst Capital Advisors LLC’s portfolio, making the stock its 26th largest position. Catalyst Capital Advisors LLC’s holdings in Microchip Technology were worth $11,191,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of MCHP. Grove Bank & Trust increased its position in shares of Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after buying an additional 190 shares during the last quarter. Duncker Streett & Co. Inc. increased its position in shares of Microchip Technology by 42.2% in the first quarter. Duncker Streett & Co. Inc. now owns 1,696 shares of the semiconductor company’s stock worth $125,000 after buying an additional 503 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock worth $125,000 after buying an additional 136 shares during the last quarter. Smithfield Trust Co. increased its position in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after buying an additional 7 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Microchip Technology during the first quarter worth approximately $135,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.
Shares of Microchip Technology Incorporated (MCHP) opened at 82.21 on Friday. The stock has a market capitalization of $19.13 billion, a PE ratio of 44.29 and a beta of 1.06. The stock has a 50 day moving average of $80.52 and a 200-day moving average of $76.82. Microchip Technology Incorporated has a one year low of $57.52 and a one year high of $87.49.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $972.10 million during the quarter, compared to analyst estimates of $944.87 million. During the same period in the previous year, the business posted $0.84 EPS. The company’s quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts predict that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a $0.362 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.76%. Microchip Technology’s payout ratio is 77.54%.
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Several research firms have issued reports on MCHP. Mizuho restated a “neutral” rating and issued a $84.00 price objective (up previously from $80.00) on shares of Microchip Technology in a research note on Wednesday. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. B. Riley restated a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a research note on Sunday, June 11th. Jefferies Group LLC restated a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $102.00 price objective (up previously from $100.00) on shares of Microchip Technology in a research note on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $88.80.
In other news, VP Stephen V. Drehobl sold 3,974 shares of Microchip Technology stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total value of $319,072.46. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,145,176.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 2,510 shares of Microchip Technology stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The disclosure for this sale can be found here. 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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