Microchip Technology (MCHP) : Trust Co Of Toledo Na Oh scooped up 1,986 additional shares in Microchip Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 60,880 shares of Microchip Technology which is valued at $3,475,030.Microchip Technology makes up approximately 0.98% of Trust Co Of Toledo Na Oh’s portfolio.
Other Hedge Funds, Including , Gavekal Capital added MCHP to its portfolio by purchasing 172,904 company shares during the most recent quarter which is valued at $9,366,210. Microchip Technology makes up approx 2.78% of Gavekal Capital’s portfolio.Checchi Capital Advisers reduced its stake in MCHP by selling 3 shares or 0.19% in the most recent quarter. The Hedge Fund company now holds 1,588 shares of MCHP which is valued at $86,022. Microchip Technology makes up approx 0.02% of Checchi Capital Advisers’s portfolio.Nn Investment Partners Holdings N.v. reduced its stake in MCHP by selling 63,000 shares or 98.14% in the most recent quarter. The Hedge Fund company now holds 1,193 shares of MCHP which is valued at $63,527.
Microchip Technology closed down -1.05 points or -1.85% at $55.64 with 37,21,959 shares getting traded on Friday. Post opening the session at $56.84, the shares hit an intraday low of $55.64 and an intraday high of $56.94 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.