Microchip Technology (MCHP) : Trust Co Of Virginia Va scooped up 5,099 additional shares in Microchip Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 130,075 shares of Microchip Technology which is valued at $7,029,253.Microchip Technology makes up approximately 1.19% of Trust Co Of Virginia Va’s portfolio.
Other Hedge Funds, Including , Crestpoint Capital Management reduced its stake in MCHP by selling 1,000 shares or 7.19% in the most recent quarter. The Hedge Fund company now holds 12,900 shares of MCHP which is valued at $697,116. Microchip Technology makes up approx 0.36% of Crestpoint Capital Management’s portfolio. Trust Department Mb Financial Bank N A sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 12,000 shares of MCHP which is valued $648,480. Foundry Partners added MCHP to its portfolio by purchasing 23,810 company shares during the most recent quarter which is valued at $1,267,883. Microchip Technology makes up approx 0.12% of Foundry Partners’s portfolio.British Columbia Investment Management Corp boosted its stake in MCHP in the latest quarter, The investment management firm added 6,000 additional shares and now holds a total of 172,828 shares of Microchip Technology which is valued at $8,964,588. Microchip Technology makes up approx 0.08% of British Columbia Investment Management Corp’s portfolio. Cullinan Associates Inc added MCHP to its portfolio by purchasing 21,150 company shares during the most recent quarter which is valued at $1,066,383. Microchip Technology makes up approx 0.09% of Cullinan Associates Inc’s portfolio.
Microchip Technology opened for trading at $54.6 and hit $54.67 on the upside on Monday, eventually ending the session at $54.04, with a gain of 0.50% or 0.27 points. The heightened volatility saw the trading volume jump to 15,54,737 shares. Company has a market cap of $11,609 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.