Hanseatic Management Services Inc. Grows Holdings in Microchip Technology Incorporated (MCHP)
Hanseatic Management Services Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,174 shares of the semiconductor company’s stock after purchasing an additional 1,674 shares during the quarter. Microchip Technology comprises about 1.4% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 15th biggest position. Hanseatic Management Services Inc.’s holdings in Microchip Technology were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its position in Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 190 shares during the period. Trust Co. of Vermont raised its position in Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 136 shares during the period. Smithfield Trust Co. raised its position in Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 7 shares during the period. Commonwealth Bank of Australia raised its position in Microchip Technology by 1.4% in the second quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 29 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new position in Microchip Technology in the first quarter valued at about $173,000. 98.68% of the stock is currently owned by institutional investors.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, Director Wade F. Meyercord sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $83.95, for a total transaction of $109,135.00. The disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock worth $561,905 over the last ninety days. Insiders own 2.13% of the company’s stock.
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A number of brokerages have recently issued reports on MCHP. B. Riley reaffirmed a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research report on Sunday, June 11th. BidaskClub raised Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Stifel Nicolaus lifted their target price on Microchip Technology from $88.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, Raymond James Financial, Inc. began coverage on Microchip Technology in a research report on Friday, June 16th. They set an “outperform” rating and a $95.00 target price on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.13.
Shares of Microchip Technology Incorporated (NASDAQ:MCHP) traded up 0.93% during trading on Friday, reaching $89.20. The company’s stock had a trading volume of 365,971 shares. The company’s 50-day moving average price is $84.85 and its 200 day moving average price is $79.71. The stock has a market capitalization of $20.76 billion, a price-to-earnings ratio of 48.06 and a beta of 1.04. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $91.83.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Analysts anticipate that Microchip Technology Incorporated will post $5.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were paid a dividend of $0.362 per share. This represents a $1.45 annualized dividend and a yield of 1.64%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, August 17th. Microchip Technology’s dividend payout ratio is currently 77.54%.
Microchip Technology Company 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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