USA Financial Portformulas Corp Has $4.50 Million Holdings in Microchip Technology Incorporated (MCHP)

USA Financial Portformulas Corp decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 42.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,146 shares of the semiconductor company’s stock after selling 36,470 shares during the period. Microchip Technology makes up about 1.1% of USA Financial Portformulas Corp’s holdings, making the stock its 16th biggest holding. USA Financial Portformulas Corp’s holdings in Microchip Technology were worth $4,502,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MCHP. AQR Capital Management LLC boosted its stake in shares of Microchip Technology by 27.4% in the 1st quarter. AQR Capital Management LLC now owns 93,278 shares of the semiconductor company’s stock valued at $6,882,000 after purchasing an additional 20,055 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Microchip Technology during the 1st quarter valued at $359,000. DnB Asset Management AS boosted its position in Microchip Technology by 2.7% during the 2nd quarter. DnB Asset Management AS now owns 22,546 shares of the semiconductor company’s stock valued at $1,740,000 after buying an additional 600 shares during the period. KAMES CAPITAL plc purchased a new stake in Microchip Technology during the 2nd quarter valued at $1,134,000. Finally, Xact Kapitalforvaltning AB boosted its position in Microchip Technology by 15.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 31,587 shares of the semiconductor company’s stock valued at $2,438,000 after buying an additional 4,120 shares during the period.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at $90.40 on Thursday. Microchip Technology Incorporated has a 12 month low of $60.77 and a 12 month high of $95.92. The company has a market cap of $21,040.00, a P/E ratio of 19.36, a PEG ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. research analysts anticipate that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be paid a $0.3625 dividend. The ex-dividend date of this dividend is Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.60%. Microchip Technology’s payout ratio is currently 58.00%.

MCHP has been the subject of several research analyst reports. BidaskClub cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. B. Riley reaffirmed a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Microchip Technology in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $99.41.

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About Microchip Technology

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.

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

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