Cheyne Capital Management (uk) Llp buys $5,715,954 stake in Microchip Technology (MCHP)

Microchip Technology (MCHP) : Cheyne Capital Management (uk) Llp scooped up 26,459 additional shares in Microchip Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 114,986 shares of Microchip Technology which is valued at $5,715,954.Microchip Technology makes up approximately 2.64% of Cheyne Capital Management (uk) Llp’s portfolio.

Microchip Technology opened for trading at $49.38 and hit $50.54 on the upside on Friday, eventually ending the session at $49.71, with a gain of 0.57% or 0.28 points. The heightened volatility saw the trading volume jump to 20,96,325 shares. Company has a market cap of $10,116 M.

Other Hedge Funds, Including , Bennicas Associates reduced its stake in MCHP by selling 2,200 shares or 5.22% in the most recent quarter. The Hedge Fund company now holds 39,950 shares of MCHP which is valued at $1,985,915. Microchip Technology makes up approx 1.84% of Bennicas Associates’s portfolio.1st Global Advisors boosted its stake in MCHP in the latest quarter, The investment management firm added 244 additional shares and now holds a total of 34,102 shares of Microchip Technology which is valued at $1,662,814. Microchip Technology makes up approx 0.23% of 1st Global Advisors’s portfolio.Bkd Wealth Advisors boosted its stake in MCHP in the latest quarter, The investment management firm added 3,049 additional shares and now holds a total of 33,577 shares of Microchip Technology which is valued at $1,637,215. Microchip Technology makes up approx 0.26% of Bkd Wealth Advisors’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in MCHP in the latest quarter, The investment management firm added 4,020 additional shares and now holds a total of 49,548 shares of Microchip Technology which is valued at $2,415,960. Microchip Technology makes up approx 0.05% of Exxonmobil Investment Management Inc Tx’s portfolio. Vigilant Capital Management sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 431 shares of MCHP which is valued $20,860.

On the company’s financial health, Microchip Technology reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.62. The company had revenue of $552.00 million for the quarter, compared to analysts expectations of $551.80 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Microchip Technology. Microchip Technology was Downgraded by Goldman to ” Sell” on Feb 3, 2016.

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.

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