Microchip Technology (MCHP) : Northwest Investment Counselors scooped up 992 additional shares in Microchip Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 27,216 shares of Microchip Technology which is valued at $1,352,907.Microchip Technology makes up approximately 0.76% of Northwest Investment Counselors’s portfolio.
Microchip Technology opened for trading at $49.65 and hit $50.52 on the upside on Wednesday, eventually ending the session at $50.34, with a gain of 0.52% or 0.26 points. The heightened volatility saw the trading volume jump to 23,31,735 shares. Company has a market cap of $10,244 M.
Other Hedge Funds, Including , Lodestar Investment Counselil added MCHP to its portfolio by purchasing 6,392 company shares during the most recent quarter which is valued at $317,746. Microchip Technology makes up approx 0.04% of Lodestar Investment Counselil’s portfolio.Naples Global Advisors reduced its stake in MCHP by selling 650 shares or 2.24% in the most recent quarter. The Hedge Fund company now holds 28,338 shares of MCHP which is valued at $1,381,761. Microchip Technology makes up approx 0.57% of Naples Global Advisors’s portfolio.Fenimore Asset Management Inc boosted its stake in MCHP in the latest quarter, The investment management firm added 198,905 additional shares and now holds a total of 864,340 shares of Microchip Technology which is valued at $41,834,056. Microchip Technology makes up approx 2.15% of Fenimore Asset Management Inc’s portfolio.Creative Planning reduced its stake in MCHP by selling 107 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 2,933 shares of MCHP which is valued at $141,957. Kistler-tiffany Companies sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 131 shares of MCHP which is valued $6,340.
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.