A.r.t. Advisors buys $11,237,433 stake in Microchip Technology (MCHP)

Microchip Technology (MCHP) : A.r.t. Advisors scooped up 67,877 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 185,712 shares of Microchip Technology which is valued at $11,237,433.Microchip Technology makes up approximately 0.53% of A.r.t. Advisors’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co boosted its stake in MCHP in the latest quarter, The investment management firm added 7,627 additional shares and now holds a total of 49,377 shares of Microchip Technology which is valued at $2,987,802. Microchip Technology makes up approx 0.11% of Paloma Partners Management Co’s portfolio.Riverpoint Capital Management boosted its stake in MCHP in the latest quarter, The investment management firm added 12,045 additional shares and now holds a total of 335,451 shares of Microchip Technology which is valued at $20,298,140. Microchip Technology makes up approx 1.75% of Riverpoint Capital Management’s portfolio. Oxford Asset Management sold out all of its stake in MCHP during the most recent quarter. The investment firm sold 54,489 shares of MCHP which is valued $3,311,297.Quantitative Investment Management boosted its stake in MCHP in the latest quarter, The investment management firm added 11,700 additional shares and now holds a total of 73,800 shares of Microchip Technology which is valued at $4,083,354. Microchip Technology makes up approx 0.18% of Quantitative Investment Management’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.

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