Davidson Investment Advisors buys $9,095,984 stake in Microchip Technology (MCHP)

Microchip Technology (MCHP) : Davidson Investment Advisors scooped up 5,110 additional shares in Microchip Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 150,322 shares of Microchip Technology which is valued at $9,095,984.Microchip Technology makes up approximately 1.43% of Davidson Investment Advisors’s portfolio.

Other Hedge Funds, Including , Balyasny Asset Management boosted its stake in MCHP in the latest quarter, The investment management firm added 150,735 additional shares and now holds a total of 162,535 shares of Microchip Technology which is valued at $9,834,993. Microchip Technology makes up approx 0.08% of Balyasny Asset Management’s portfolio.Public Sector Pension Investment Board boosted its stake in MCHP in the latest quarter, The investment management firm added 8,000 additional shares and now holds a total of 40,693 shares of Microchip Technology which is valued at $2,462,333. Microchip Technology makes up approx 0.03% of Public Sector Pension Investment Board’s portfolio. Hudson Bay Capital Management Lp sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 32,690 shares of MCHP which is valued $1,978,072. Hl Financial Services sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 4,643 shares of MCHP which is valued $265,022.

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.

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