Flagship Harbor Advisors LLC Sells 266 Shares of Microchip Technology Inc. (MCHP)

Flagship Harbor Advisors LLC decreased its position in Microchip Technology Inc. (NASDAQ:MCHP) by 16.4% in the first quarter, Holdings Channel reports. The institutional investor owned 1,358 shares of the semiconductor company’s stock after selling 266 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Microchip Technology were worth $112,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 26,236,361 shares of the semiconductor company’s stock worth $2,070,312,000 after buying an additional 237,329 shares during the last quarter. Vanguard Group Inc lifted its position in Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock worth $2,070,312,000 after buying an additional 237,329 shares during the last quarter. Dodge & Cox bought a new stake in Microchip Technology in the 3rd quarter worth approximately $827,774,000. Northern Trust Corp lifted its position in Microchip Technology by 3.8% in the 4th quarter. Northern Trust Corp now owns 3,306,865 shares of the semiconductor company’s stock worth $237,828,000 after buying an additional 121,647 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Microchip Technology by 4.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock worth $227,564,000 after buying an additional 134,749 shares during the last quarter.

Shares of Microchip Technology stock opened at $98.71 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.20 and a beta of 1.23. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $104.20.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.21. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up 42.5% compared to the same quarter last year. As a group, equities analysts expect that Microchip Technology Inc. will post 5.9 EPS for the current fiscal year.

In other news, VP James Eric Bjornholt sold 2,356 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $89.24, for a total transaction of $210,249.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mitchell R. Little sold 3,585 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $91.17, for a total value of $326,844.45. Following the transaction, the vice president now directly owns 7,693 shares in the company, valued at $701,370.81. The disclosure for this sale can be found here. Insiders have sold 14,101 shares of company stock worth $1,258,210 over the last three months. Insiders own 2.13% of the company’s stock.

A number of analysts recently weighed in on MCHP shares. TheStreet upgraded Microchip Technology from a “c+” rating to a “b-” rating in a research report on Thursday, February 21st. BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price target on shares of Microchip Technology in a research note on Monday, February 11th. Citigroup reaffirmed a “buy” rating and issued a $105.00 price target on shares of Microchip Technology in a research note on Thursday, February 7th. Finally, Needham & Company LLC lifted their price target on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $102.17.

COPYRIGHT VIOLATION NOTICE: “Flagship Harbor Advisors LLC Sells 266 Shares of Microchip Technology Inc. (MCHP)” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/flagship-harbor-advisors-llc-sells-266-shares-of-microchip-technology-inc-mchp.html.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Further Reading: Is it Safe to Invest in Commodities?

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Inc. (NASDAQ:MCHP).

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.