Microchip Technology Inc. (MCHP) Shares Sold by Knuff & Co LLC

Knuff & Co LLC decreased its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 11.3% in the first quarter, Holdings Channel reports. The fund owned 10,891 shares of the semiconductor company’s stock after selling 1,394 shares during the period. Knuff & Co LLC’s holdings in Microchip Technology were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $155,541,000. Oregon Public Employees Retirement Fund raised its position in shares of Microchip Technology by 7,043.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 1,815,732 shares during the last quarter. Partner Fund Management L.P. acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $74,257,000. Frontier Capital Management Co. LLC acquired a new position in shares of Microchip Technology during the first quarter valued at about $79,283,000. Finally, TD Asset Management Inc. raised its position in shares of Microchip Technology by 26.5% during the fourth quarter. TD Asset Management Inc. now owns 1,167,775 shares of the semiconductor company’s stock valued at $83,986,000 after buying an additional 244,680 shares during the last quarter.

NASDAQ MCHP opened at $83.26 on Monday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $104.20. The company has a current ratio of 0.93, a quick ratio of 0.63 and a debt-to-equity ratio of 1.69.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, research analysts anticipate that Microchip Technology Inc. will post 5.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.3655 per share. This represents a $1.46 annualized dividend and a yield of 1.76%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, May 20th. Microchip Technology’s dividend payout ratio is currently 24.01%.

A number of brokerages have recently commented on MCHP. BidaskClub raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Zacks Investment Research lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 target price on shares of Microchip Technology in a research note on Monday, May 6th. Mizuho upped their target price on shares of Microchip Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets lowered their target price on shares of Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Microchip Technology currently has a consensus rating of “Buy” and a consensus price target of $104.32.

In other Microchip Technology news, VP James Eric Bjornholt sold 2,356 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $89.24, for a total transaction of $210,249.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director L B. Day sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the sale, 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. 2.13% of the stock is currently owned by corporate insiders.

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

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