Microchip Technology (MCHP) : Mitsubishi Ufj Securities Holdings Ltd. added new position in Microchip Technology during the most recent quarter end. The investment management firm now holds 9,700 shares of Microchip Technology which is valued at $586,947 , the company said in a statement filed on Aug 15, 2016 with the SEC.Microchip Technology makes up approximately 1.84% of Mitsubishi Ufj Securities Holdings Ltd.’s portfolio.
Other Hedge Funds, Including , Coastland Capital sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 207,622 shares of MCHP which is valued $12,563,207. Capital Investment Counsel Inc sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 389 shares of MCHP which is valued $23,538.Woodmont Investment Counsel reduced its stake in MCHP by selling 530 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 12,280 shares of MCHP which is valued at $743,063. Microchip Technology makes up approx 0.21% of Woodmont Investment Counsel’s portfolio.Brown Advisory Inc reduced its stake in MCHP by selling 20,391 shares or 4.84% in the most recent quarter. The Hedge Fund company now holds 400,761 shares of MCHP which is valued at $22,695,095. Microchip Technology makes up approx 0.08% of Brown Advisory Inc’s portfolio.Feltz Wealth Plan reduced its stake in MCHP by selling 1,235 shares or 40.4% in the most recent quarter. The Hedge Fund company now holds 1,822 shares of MCHP which is valued at $110,723. Microchip Technology makes up approx 0.01% of Feltz Wealth Plan’s portfolio.
Microchip Technology opened for trading at $62.1 and hit $62.8 on the upside on Thursday, eventually ending the session at $62.8, with a gain of 1.44% or 0.89 points. The heightened volatility saw the trading volume jump to 34,13,443 shares. Company has a market cap of $13,520 M.
On the company’s financial health, Microchip Technology reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.75. The company had revenue of $844.00 million for the quarter, compared to analysts expectations of $821.32 million. The company’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.
Many Wall Street Analysts have commented on Microchip Technology. Company shares were Reiterated by Needham on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .Company shares were Reiterated by Stifel on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .
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.