Microchip Technology Inc. (MCHP) Shares Sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX cut its position in Microchip Technology Inc. (NASDAQ:MCHP) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,192 shares of the semiconductor company’s stock after selling 5,307 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Microchip Technology were worth $3,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCHP. Commonwealth Bank of Australia boosted its position in shares of Microchip Technology by 1.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 29 shares during the period. Aberdeen Asset Management PLC UK boosted its position in shares of Microchip Technology by 41.7% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 57,466 shares of the semiconductor company’s stock valued at $4,435,000 after purchasing an additional 16,904 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Microchip Technology by 19.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,847 shares of the semiconductor company’s stock valued at $606,000 after purchasing an additional 1,271 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Microchip Technology by 5.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 19,230 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 949 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in shares of Microchip Technology in the 2nd quarter valued at about $355,000.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) opened at $93.44 on Friday. Microchip Technology Inc. has a 1 year low of $64.68 and a 1 year high of $95.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The firm has a market capitalization of $21,545.03, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.27 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. equities analysts predict that Microchip Technology Inc. will post 5.12 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on MCHP. Zacks Investment Research cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Tuesday, September 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Tuesday, November 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $110.00 price objective (up from $95.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Finally, ValuEngine cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Microchip Technology currently has an average rating of “Buy” and an average target price of $101.24.

In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were 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 of the company’s stock, valued at $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

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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.

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

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