Northwest Investment Counselors LLC Acquires 364 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

Northwest Investment Counselors LLC boosted its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 13,078 shares of the semiconductor company’s stock after purchasing an additional 364 shares during the period. Northwest Investment Counselors LLC’s holdings in Microchip Technology were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dupont Capital Management Corp raised its stake in Microchip Technology by 9.4% in the 4th quarter. Dupont Capital Management Corp now owns 5,144 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 444 shares during the period. Deltec Asset Management LLC bought a new stake in Microchip Technology in the 4th quarter valued at $2,587,000. Arizona State Retirement System raised its stake in Microchip Technology by 30.5% in the 4th quarter. Arizona State Retirement System now owns 100,198 shares of the semiconductor company’s stock valued at $10,493,000 after acquiring an additional 23,429 shares during the period. TCI Wealth Advisors Inc. raised its stake in Microchip Technology by 43.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 641 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 194 shares during the period. Finally, State of Michigan Retirement System raised its stake in Microchip Technology by 0.9% in the 4th quarter. State of Michigan Retirement System now owns 57,772 shares of the semiconductor company’s stock valued at $6,050,000 after acquiring an additional 500 shares during the period.

A number of equities research analysts recently weighed in on MCHP shares. KeyCorp increased their price target on Microchip Technology from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Needham & Company LLC increased their price target on Microchip Technology to $110.00 and gave the company an “in-line” rating in a research note on Wednesday, November 6th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. ValuEngine upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Microchip Technology in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $111.29.

In other news, VP Richard J. Simoncic sold 3,536 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $91.15, for a total transaction of $322,306.40. Following the sale, the vice president now directly owns 18,452 shares of the company’s stock, valued at approximately $1,681,899.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,958 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $91.15, for a total value of $178,471.70. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

MCHP stock traded up $1.93 during trading hours on Tuesday, hitting $104.91. 314,879 shares of the stock were exchanged, compared to its average volume of 2,939,274. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $25.62 billion, a P/E ratio of 68.57, a P/E/G ratio of 1.80 and a beta of 1.43. The company has a 50-day simple moving average of $106.01 and a two-hundred day simple moving average of $95.84. Microchip Technology Inc. has a 12 month low of $77.66 and a 12 month high of $112.47.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.13. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Microchip Technology had a return on equity of 25.60% and a net margin of 7.15%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.81 EPS. On average, equities research analysts predict that Microchip Technology Inc. will post 4.9 earnings per share for the current year.

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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