Teachers Advisors LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 793,948 shares of the semiconductor company’s stock after selling 35,500 shares during the quarter. Teachers Advisors LLC owned approximately 0.35% of Microchip Technology worth $61,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its holdings in Microchip Technology by 15.8% in the 2nd quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 190 shares during the last quarter. Trust Co. of Vermont increased its position in Microchip Technology by 9.2% during the 2nd quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 136 shares during the period. Smithfield Trust Co. increased its position in Microchip Technology by 0.4% during the 2nd quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 7 shares during the period. Commonwealth Bank of Australia increased its position in Microchip Technology by 1.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 29 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in Microchip Technology during the 1st quarter valued at approximately $173,000. Institutional investors and hedge funds own 98.68% of the company’s stock.

In related news, VP Stephen V. Drehobl sold 3,076 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the transaction, the vice president now owns 14,263 shares in the company, valued at $1,167,997.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $200,876.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,829 shares of company stock valued at $561,905. 2.13% of the stock is owned by corporate insiders.

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Shares of Microchip Technology Incorporated (MCHP) opened at 89.62 on Friday. Microchip Technology Incorporated has a 12 month low of $57.52 and a 12 month high of $90.57. The firm has a market cap of $20.86 billion, a P/E ratio of 48.29 and a beta of 1.04. The stock’s 50 day moving average is $84.24 and its 200 day moving average is $79.36.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a dividend of $0.362 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 77.54%.

A number of research firms have weighed in on MCHP. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Friday, September 8th. Credit Suisse Group reissued an “outperform” rating and set a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, June 7th. Mizuho reissued a “neutral” rating and set a $80.00 target price (up previously from $75.00) on shares of Microchip Technology in a research report on Wednesday, June 7th. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, B. Riley reissued a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $88.80.

About Microchip Technology

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.

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

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