City Holding Co. Buys 2,325 Shares of Microchip Technology Inc. (MCHP)

City Holding Co. increased its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,390 shares of the semiconductor company’s stock after buying an additional 2,325 shares during the quarter. Microchip Technology comprises 1.0% of City Holding Co.’s portfolio, making the stock its 23rd largest position. City Holding Co.’s holdings in Microchip Technology were worth $3,286,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MCHP. Fox Run Management L.L.C. grew its stake in Microchip Technology by 248.8% during the 3rd quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock valued at $1,347,000 after purchasing an additional 10,700 shares in the last quarter. 361 Capital LLC grew its stake in Microchip Technology by 35.3% during the 2nd quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock valued at $3,769,000 after purchasing an additional 12,730 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Microchip Technology by 9.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 130,249 shares of the semiconductor company’s stock valued at $11,694,000 after purchasing an additional 11,068 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Microchip Technology by 26.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 96,400 shares of the semiconductor company’s stock valued at $8,655,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Cordasco Financial Network grew its stake in Microchip Technology by 15.0% during the 3rd quarter. Cordasco Financial Network now owns 25,207 shares of the semiconductor company’s stock valued at $2,263,000 after purchasing an additional 3,279 shares in the last quarter.

A number of brokerages have weighed in on MCHP. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Stifel Nicolaus restated a “buy” rating and set a $94.00 price objective on shares of Microchip Technology in a research note on Thursday, September 28th. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Friday, January 5th. B. Riley restated a “buy” rating and set a $123.00 price objective (up previously from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Tuesday, September 19th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $101.24.

In related news, CFO James Eric Bjornholt sold 1,801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $165,079.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) traded up $0.97 on Wednesday, hitting $94.30. The stock had a trading volume of 238,005 shares, compared to its average volume of 1,669,710. The firm has a market cap of $21,940.00, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. Microchip Technology Inc. has a one year low of $64.68 and a one year high of $95.92.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.27 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. sell-side analysts forecast that Microchip Technology Inc. will post 5.12 EPS for the current year.

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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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