Peoples Financial Services CORP. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ: MCHP – Get Rating) by 10.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 44,257 shares of the semiconductor company stock after selling 4,924 shares during the quarter. Microchip Technology comprises approximately 1.4% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 15th largest holding. Peoples Financial Services CORP.’s holdings in Microchip Technology were worth $ 3,326,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Dodge & Cox increased its position in Microchip Technology by 87.3% during the fourth quarter. Dodge & Cox now owns 29,539,169 shares of the semiconductor company stock worth $ 2,571,680,000 after buying an additional 13,768,272 shares during the period. Principal Financial Group Inc. increased its position in Microchip Technology by 95.7% during the fourth quarter. Principal Financial Group Inc. now owns 10,618,059 shares of the semiconductor company stock worth $ 934,445,000 after buying an additional 5,193,267 shares during the period. Geode Capital Management LLC increased its position in Microchip Technology by 107.9% during the fourth quarter. Geode Capital Management LLC now owns 10,352,013 shares of the semiconductor company stock worth $ 898,949,000 after buying an additional 5,373,594 shares during the period. Northern Trust Corp increased its position in Microchip Technology by 99.1% during the fourth quarter. Northern Trust Corp now owns 7,429,772 shares of the semiconductor company stock worth $ 646,836,000 after buying an additional 3,698,604 shares during the period. Finally, Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth approximately $ 462,517,000. Hedge funds and other institutional investors own 89.36% of the company stock.
Several research analysts have commented on the company. BMO Capital Markets cut their price target on Microchip Technology from $ 95.00 to $ 85.00 in a research report on Tuesday, May 10th. Mizuho dropped their target price on Microchip Technology from $ 75.00 to $ 72.00 in a report on Tuesday, May 10th. Morgan Stanley dropped their target price on Microchip Technology from $ 85.00 to $ 81.00 and set an “overweight” rating on the stock in a report on Friday, June 10th. UBS Group boosted their target price on Microchip Technology from $ 98.00 to $ 105.00 and gave the company a “buy” rating in a report on Wednesday, March 9th. Finally, The Goldman Sachs Group lowered Microchip Technology from a “buy” rating to a “neutral” rating and set a $ 79.00 target price on the stock. in a report on Sunday, March 27th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $ 93.55.
In related news, Director Karlton D. Johnson sold 594 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $ 67.35, for a total value of $ 40,005.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 66.66, for a total value of $ 66,660.00. Following the completion of the sale, the director now owns 36,386 shares in the company, valued at $ 2,425,490.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,564 shares of company stock worth $ 637,217. 2.03% of the stock is currently owned by company insiders.
Shares of NASDAQ: MCHP opened at $ 60.58 on Friday. The company has a market capitalization of $ 33.59 billion, a P / E ratio of 26.75, a P / E / G ratio of 0.54 and a beta of 1.55. The stock’s fifty day simple moving average is $ 66.29 and its 200-day simple moving average is $ 72.97. Microchip Technology Incorporated has a 52-week low of $ 56.24 and a 52-week high of $ 90.00. The company has a quick ratio of 1.14, a current ratio of 1.75 and a debt-to-equity ratio of 1.30.
Microchip Technology (NASDAQ: MCHP – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The semiconductor company reported $ 1.26 EPS for the quarter, topping the estimate consensus of $ 1.17 by $ 0.09. Microchip Technology had a return on equity of 41.89% and a net margin of 18.85%. The company had revenue of $ 1.84 billion during the quarter, compared to analyst estimates of $ 1.82 billion. During the same period in the prior year, the firm posted $ 0.82 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 5.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were issued a $ 0.276 dividend. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $ 1.10 dividend on an annualized basis and a yield of 1.82%. This is an increase from Microchip Technology’s previous quarterly dividend of $ 0.25. Microchip Technology’s dividend payout ratio is currently 48.57%.
Microchip Technology Company Profile: (Get Rating)
Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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