Microchip Technology (MCHP) : Hengehold Capital Management reduced its stake in Microchip Technology by 3.81% during the most recent quarter end. The investment management company now holds a total of 33,527 shares of Microchip Technology which is valued at $1,821,857 after selling 1,328 shares in Microchip Technology , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Microchip Technology makes up approximately 0.58% of Hengehold Capital Management’s portfolio.
Other Hedge Funds, Including , Dnb Asset Management As boosted its stake in MCHP in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 23,646 shares of Microchip Technology which is valued at $1,226,518. Microchip Technology makes up approx 0.03% of Dnb Asset Management As’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in MCHP in the latest quarter, The investment management firm added 6,058 additional shares and now holds a total of 55,606 shares of Microchip Technology which is valued at $2,884,283. Microchip Technology makes up approx 0.06% of Exxonmobil Investment Management Inc Tx’s portfolio.
Microchip Technology opened for trading at $53.95 and hit $54.52 on the upside on Wednesday, eventually ending the session at $54.34, with a gain of 1.17% or 0.63 points. The heightened volatility saw the trading volume jump to 14,90,646 shares. Company has a market cap of $11,673 M.
On the company’s financial health, Microchip Technology reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $568.44 million for the quarter, compared to analysts expectations of $563.61 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.
Many Wall Street Analysts have commented on Microchip Technology. Credit Agricole Initiated Microchip Technology on May 17, 2016 to “Buy”, Price Target of the shares are set at $58.Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $54 .
Microchip Technology Incorporated develops manufactures and sells specialized semiconductor products for a range of embedded control applications. The Company operates in segments including semiconductor products and technology licensing. The Company’s product portfolio consists of general purpose and specialized 8-bit 16-bit and 32-bit microcontrollers; linear mixed-signal power management; thermal management; Radio-frequency (RF) safety security wired connectivity and wireless connectivity devices as well as serial EEPROMs Serial Flash memories Parallel Flash memories and serial Static Random Access Memory (SRAM). The Company also licenses Flash-IP solutions that are incorporated in a range of products. The Company’s products are applicable in the automotive communications computing consumer and industrial control markets.