Today The 3,325 Shares in Microchip Technology Incorporated (MCHP) Acquired by San Francisco Sentry Investment Group CA

Today The 3,325 Shares in Microchip Technology Incorporated (MCHP) Acquired by San Francisco Sentry Investment Group CA

San Francisco Sentry Investment Group CA purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the third quarter, Holdings Channel reports. The firm purchased 3,325 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Microchip Technology by 4.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 585,328 shares of the company’s stock valued at $29,711,000 after buying an additional 24,099 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in Microchip Technology by 9.6% in the second quarter. Nicolet Bankshares Inc. now owns 4,925 shares of the company’s stock valued at $250,000 after buying an additional 432 shares during the last quarter. Concert Wealth Management Inc. purchased a new stake in Microchip Technology during the second quarter valued at approximately $241,000. Morgan Dempsey Capital Management LLC raised its stake in Microchip Technology by 29.2% in the second quarter. Morgan Dempsey Capital Management LLC now owns 35,054 shares of the company’s stock valued at $1,779,000 after buying an additional 7,913 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in Microchip Technology by 1.0% in the second quarter. Whittier Trust Co. now owns 7,148 shares of the company’s stock valued at $363,000 after buying an additional 73 shares during the last quarter.

Microchip Technology Incorporated (NASDAQ:MCHP) opened at 67.90 on Wednesday. Microchip Technology Incorporated has a one year low of $39.01 and a one year high of $67.96. The company has a 50-day moving average of $64.97 and a 200 day moving average of $61.29. The firm has a market cap of $14.67 billion, a P/E ratio of 295.22 and a beta of 1.05.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. The business earned $873.80 million during the quarter, compared to the consensus estimate of $860.96 million. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. Equities research analysts expect that Microchip Technology Incorporated will post $3.62 earnings per share for the current fiscal year.

Several research firms have commented on MCHP. Stifel Nicolaus increased their price target on shares of Microchip Technology from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, November 30th. Susquehanna began coverage on shares of Microchip Technology in a research report on Tuesday, December 20th. They set a “positive” rating and a $75.00 price target for the company. Zacks Investment Research lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Jefferies Group LLC reissued a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Microchip Technology in a research report on Thursday, November 10th. Finally, B. Riley reissued a “buy” rating and set a $78.00 price target on shares of Microchip Technology in a research report on Sunday, November 13th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $68.00.

In other news, CEO Steve Sanghi sold 28,693 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $65.41, for a total transaction of $1,876,809.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard J. Simoncic sold 2,892 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $64.90, for a total value of $187,690.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,331 shares of company stock valued at $7,297,948. Corporate insiders own 2.50% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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