Logan Capital Management Inc. Has $5.66 Million Stock Position in Microchip Technology Inc. (NASDAQ:MCHP)

Logan Capital Management Inc. boosted its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,264 shares of the semiconductor company’s stock after buying an additional 1,597 shares during the period. Logan Capital Management Inc.’s holdings in Microchip Technology were worth $5,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Osborn Williams & Donohoe LLC acquired a new position in Microchip Technology during the first quarter valued at $31,000. Parkside Financial Bank & Trust raised its position in Microchip Technology by 65.3% during the first quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 171 shares during the period. Gemmer Asset Management LLC raised its position in Microchip Technology by 186.5% during the first quarter. Gemmer Asset Management LLC now owns 487 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 317 shares during the period. Zions Bancorporation N.A. acquired a new position in Microchip Technology during the first quarter valued at $43,000. Finally, Shine Investment Advisory Services Inc. raised its position in Microchip Technology by 110.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 578 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 303 shares during the period.

Shares of NASDAQ MCHP opened at $88.06 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.63 and a current ratio of 0.93. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.40. The firm’s 50-day moving average is $90.07. Microchip Technology Inc. has a 52 week low of $60.70 and a 52 week high of $101.35.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. As a group, analysts predict that Microchip Technology Inc. will post 5.56 earnings per share for the current year.

MCHP has been the topic of several recent analyst reports. BMO Capital Markets dropped their price target on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research report on Monday, May 6th. Zacks Investment Research lowered Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research report on Thursday, July 25th. Wells Fargo & Co upped their target price on Microchip Technology from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Finally, B. Riley upped their target price on Microchip Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.89.

In other news, VP James Eric Bjornholt sold 2,188 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.99, for a total transaction of $177,206.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.21% of the company’s stock.

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.

Featured Article: What is Compound Interest?

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.