Published: Sat, March 11, 2017
Markets | By Erika Turner

Microchip Technology Incorporated (MCHP): A Detailed Look at its Institutional Ownership


(NASDAQ:MCHP) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. Price T Rowe Associates Inc. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued. Commonwealth Bank of Australia now owns 2,135 shares of the company's stock valued at $132,000 after buying an additional 404 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Microchip Technology by 1.5% in the third quarter. In addition, for the current month 22 analysts gave ratings for hold as compared to last month 23 analysts stood in same position. Hilltop Holdings Inc. raised its stake in shares of Microchip Technology by 0.7% in the fourth quarter. Finally, Cornerstone Advisors Inc. boosted its position in shares of Microchip Technology by 13.5% in the third quarter. Canandaigua National Bank & Trust Co. now owns 11,400 shares of the company's stock valued at $708,000 after buying an additional 45 shares during the last quarter. The stock tapped a 52-week high of US$76.5 while the mean 12-month price target for the shares is US$83.76.

Microchip Technology Incorporated (NASDAQ:MCHP) stock is presently standing at about $73.53 and lots of equity research firms seem to have a target price set on the stock. Johnson Financial Group Inc. now owns 2,908 shares of the company's stock worth $187,000 after buying an additional 9 shares during the period.

Microchip's market cap is now $15.91B and has a P/E ratio of 197.40. The stock is now moving above its 20-Day Simple Moving Average of 8.16% with the 50-Day Simple Moving Average of 8.16 percent.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, February 7th.

For the next year first quarter, analysts predicted EPS estimates trend of $1.08 which would leave an impact on the stock performance in coming months. The company had revenue of $881.20 million for the quarter, compared to the consensus estimate of $849.14 million. Microchip Technology had a net margin of 1.77% and a return on equity of 27.29%. The firm's revenue for the quarter was up 59.6% on a year-over-year basis. During the same quarter previous year, the firm posted $0.64 earnings per share. With the volume soaring to 3,535,920 shares, the last trade was called at $73.53.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were given a $0.361 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. Currently, Microchip Technology Incorporated has a MF Rank of 8984. The ex-dividend date of this dividend is Thursday, February 16th.

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Shares of Microchip Technology (NASDAQ:MCHP) opened at 66.48 on Tuesday.

Several insiders were part of recent insider activity for the stock. Now the company Insiders own 2.5% of Microchip Technology Incorporated shares according to the proxy statements.

02/08/2017 - Microchip Technology Incorporated had its " rating reiterated by analysts at Jefferies. Mizuho restated a "neutral" rating and issued a $67.00 price target on shares of Microchip Technology in a research report on Tuesday, November 8th.

12/20/2016 - Susquehanna began new coverage on Microchip Technology Incorporated giving the company a " rating. The company has a consensus rating of "Buy" and an average target price of $75.13. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. (NASDAQ:MCHP) where Needham provided Strong Buy rating on the stock on 8-Feb-17.

In other Microchip Technology news, VP Stephen V. Drehobl sold 4,268 shares of the firm's stock in a transaction on Wednesday, February 22nd. Over the same time span, the stock marked US$125 as its best level and the lowest price reached was US$105.92. 1 analysts recommended Overweight these shares while 0 recommended Underweight, according to FactSet data.

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