Sheaff Brock Investment Advisors LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,608 shares of the semiconductor company’s stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCHP. Principal Financial Group Inc. raised its holdings in Microchip Technology by 66.5% in the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after acquiring an additional 2,507,707 shares during the period. Janus Capital Management LLC raised its holdings in Microchip Technology by 10.3% in the 1st quarter. Janus Capital Management LLC now owns 7,130,689 shares of the semiconductor company’s stock worth $526,103,000 after acquiring an additional 666,436 shares during the period. Waddell & Reed Financial Inc. raised its holdings in Microchip Technology by 11.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 6,290,257 shares of the semiconductor company’s stock worth $464,095,000 after acquiring an additional 641,548 shares during the period. Harbour Capital Advisors LLC raised its holdings in Microchip Technology by 26,055.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 612,037 shares of the semiconductor company’s stock worth $7,930,000 after acquiring an additional 609,697 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Microchip Technology by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 22,579,936 shares of the semiconductor company’s stock worth $1,665,948,000 after acquiring an additional 563,501 shares during the period. Hedge funds and other institutional investors own 98.68% of the company’s stock.

Several research analysts recently commented on the stock. Mizuho reiterated a “neutral” rating and issued a $84.00 target price (up previously from $80.00) on shares of Microchip Technology in a report on Wednesday, August 9th. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. B. Riley reiterated a “buy” rating and issued a $115.00 target price on shares of Microchip Technology in a report on Sunday, June 11th. Jefferies Group LLC reiterated a “buy” rating on shares of Microchip Technology in a report on Monday, July 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $102.00 target price (up previously from $100.00) on shares of Microchip Technology in a report on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Microchip Technology presently has an average rating of “Buy” and a consensus price target of $88.80.

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Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at 88.38 on Tuesday. The stock’s 50 day moving average is $83.22 and its 200 day moving average is $78.92. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 47.62 and a beta of 1.04. Microchip Technology Incorporated has a 12 month low of $57.52 and a 12 month high of $88.48.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The business had revenue of $972.10 million for the quarter, compared to analyst estimates of $944.87 million. During the same period last year, the firm earned $0.84 earnings per share. Microchip Technology’s revenue for the quarter was up 21.6% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a dividend of $0.362 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, August 17th. Microchip Technology’s dividend payout ratio (DPR) is currently 77.54%.

In related news, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total transaction of $109,135.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,829 shares of company stock worth $561,905. 2.13% of the stock is owned by insiders.

Microchip Technology Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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