Microchip Technology Incorporated (MCHP)

Pinnacle Financial Partners Inc.'s holdings in Microchip Technology were worth $2,852,000 as of its most recent filing with the Securities and Exchange Commission. It dived, as 38 investors sold Microchip Technology Incorporated shares while 242 reduced holdings. Winslow Evans & Crocker Inc. increased its position in shares of Microchip Technology by 1,136.4% during the 2nd quarter. First Midwest Bank Trust Division now owns 5,287 shares of the semiconductor company's stock valued at $390,000 after buying an additional 137 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Microchip Technology in the 1st quarter valued at approximately $359,000. BB&T Corp now owns 48,721 shares of the semiconductor company's stock valued at $3,760,000 after buying an additional 13,971 shares during the last quarter. Meiji Yasuda Life Insurance Co now owns 16,221 shares of the semiconductor company's stock valued at $1,252,000 after purchasing an additional 100 shares during the period. Geneva Advisors Llc sold 7,778 shares as Microchip Technology (MCHP)'s stock rose 11.86%. TimesSquare Capital Management LLC purchased a new stake in shares of Microchip Technology during the third quarter worth about $72,300,000. Also, CFO James Eric Bjornholt sold 1,801 shares of the firm's stock in a transaction that occurred on Wednesday, November 22nd. If the published price targets set by Microchip Technology Incorporated analysts have any power to influence the stock's share price, the highest price target set for MCHP is $130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

In other news, VP Stephen V. Drehobl sold 2,852 shares of the firm's stock in a transaction that occurred on Wednesday, November 22nd. Sell-side analysts often provide price target projections on where they believe the stock will be headed in the future. Following the transaction, the vice president now owns 8,201 shares in the company, valued at $604,823.75. The disclosure for this sale can be found here. A well-researched analyst report will typically offer a solid, detailed case for why the analyst believes that the stock will eventually hit the target.

But it's not just selling activity that is creating investor interest in MCHP; over the last several weeks, several insiders have bought shares. BidaskClub upgraded Microchip Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, August 9th. Jefferies Group restated a "buy" rating and issued a $94.00 target price (up from $92.00) on shares of Microchip Technology in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of "Buy" and an average price target of $99.41. About 3.67 million shares traded or 86.83% up from the average. The company has a market capitalization of $21,187.15, a P/E ratio of 19.19, a P/E/G ratio of 1.45 and a beta of 1.05. Microchip Technology Incorporated has a 52 week low of $60.77 and a 52 week high of $95.92.

Exciting times ahead? MCHP is covered by 14 analysts who by consensus are expecting positive earnings, estimated to rise from current levels of $2.679 to $3.727 next year. Bank of America initiated Microchip Technology Incorporated (NASDAQ:MCHP) on Monday, November 9 with "Neutral" rating. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.06 by $0.10. Sales reached $1.01 billion during the three-month period, compared to the average analyst estimate of $1 billion. 2017, Microchip Technology Incorporated (MCHP) delivered a 1.03% surprise with its net revenue. That value represents a market adjusting for revenues that have been growing by 16.16 % on a quarterly year/year basis as of the company's last quarterly report.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, November 20th. This is a boost from Microchip Technology's previous quarterly dividend of $0.36. Microchip Technology now has $20.31 billion valuation.

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Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications.

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