Nisa Investment Advisors LLC Has $4.48 Million Stake in Microchip Technology Inc. (MCHP)

Nisa Investment Advisors LLC lifted its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,971 shares of the semiconductor company’s stock after buying an additional 2,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Microchip Technology were worth $4,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Clarfeld Financial Advisors LLC acquired a new stake in Microchip Technology in the fourth quarter worth $26,000. Morgan Dempsey Capital Management LLC acquired a new stake in Microchip Technology in the fourth quarter worth $28,000. Lindbrook Capital LLC acquired a new stake in Microchip Technology in the fourth quarter worth $32,000. Gemmer Asset Management LLC grew its holdings in Microchip Technology by 186.5% in the first quarter. Gemmer Asset Management LLC now owns 487 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 317 shares during the period. Finally, Shine Investment Advisory Services Inc. grew its holdings in Microchip Technology by 110.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 578 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 303 shares during the period.

MCHP opened at $98.71 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $104.20. The stock has a market cap of $23.39 billion, a P/E ratio of 19.02, a PEG ratio of 1.20 and a beta of 1.23.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.21. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm earned $1.36 earnings per share. The firm’s revenue was up 42.5% on a year-over-year basis. Equities research analysts predict that Microchip Technology Inc. will post 5.9 EPS for the current fiscal year.

In related news, Director Matthew W. Chapman sold 4,660 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $91.04, for a total transaction of $424,246.40. Following the transaction, the director now directly owns 19,080 shares of the company’s stock, valued at $1,737,043.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L B. Day sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $84.82, for a total transaction of $296,870.00. Following the transaction, the director now directly owns 9,238 shares in the company, valued at $783,567.16. 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. 2.13% of the stock is owned by insiders.

A number of equities research analysts have commented on the stock. Cowen assumed coverage on shares of Microchip Technology in a report on Friday, February 22nd. They issued a “market perform” rating and a $90.00 price target for the company. BidaskClub upgraded shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 30th. Citigroup reiterated a “buy” rating and set a $105.00 price objective on shares of Microchip Technology in a report on Thursday, February 7th. ValuEngine upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Microchip Technology presently has an average rating of “Buy” and an average target price of $102.17.

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Microchip Technology Company Profile

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

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