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.
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.
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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.
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