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Fenimore Private Client Group

 

Stock Update: Microchip Technology

Microchip Technology was the best performer for the third quarter. This provider of semiconductors, used in everything from touch panels to automotive infotainment systems, has been beating expectations for several quarters and the stock has moved higher throughout the year. Microchip’s management has a unique strategy of staying out of high volume applications which tend to have low margins and high obsolescence risk. Instead, they concentrate on taking market share in low volume applications. Additionally, management acquires other semiconductor companies that have good technologies but are poorly managed. Stellar results following the integration of a pair recent of acquisitions has helped drive earnings.

The portfolios are actively managed. For the Fenimore Managed Equity Accounts Composite’s current Top 10 Holdings to the most recent quarter-end, view its Portfolio Details.

To obtain the Fenimore Managed Equity Accounts Composite’s performance data that is current to the most recent quarter-end, click here.

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Highlighting specific companies can be difficult due to the natural variation among the multiple accounts we manage. Accounts vary by objective and tenure so holdings may differ.

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The investment advisory services and FAM Funds described on our website are available only to persons in certain States within the U.S. More

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