Clear Perspective Advisors LLC held its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the semiconductor company’s stock at the close of the 2nd quarter. Clear Perspective Advisors LLC’s holdings in Microchip Technology were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Microchip Technology by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after acquiring an additional 1,042,622 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Microchip Technology by 10.3% during 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 in the last quarter. Waddell & Reed Financial Inc. raised its position in shares of Microchip Technology by 11.4% during 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Microchip Technology by 66.5% during 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 in the last quarter. Finally, Aristotle Capital Management LLC raised its position in shares of Microchip Technology by 0.4% during the 1st quarter. Aristotle Capital Management LLC now owns 4,413,824 shares of the semiconductor company’s stock worth $325,652,000 after acquiring an additional 18,683 shares in the last quarter. 98.68% of the stock is currently owned by institutional investors and hedge funds.

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

Microchip Technology Incorporated (MCHP) traded down 0.63% on Thursday, hitting $91.02. The stock had a trading volume of 260,213 shares. The company’s 50 day moving average price is $86.95 and its 200-day moving average price is $80.88. Microchip Technology Incorporated has a 12-month low of $57.52 and a 12-month high of $91.83. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 49.04 and a beta of 1.07.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders 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 dividend yield of 1.58%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, August 17th. Microchip Technology’s dividend payout ratio is presently 77.54%.

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Several brokerages have recently weighed in on MCHP. Mizuho reissued a “neutral” rating and set a $84.00 target price (up previously from $80.00) on shares of Microchip Technology in a research report on Wednesday, August 9th. Morgan Stanley reissued an “overweight” rating and set a $94.00 target price on shares of Microchip Technology in a research report on Wednesday, September 20th. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, B. Riley reissued a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research report on Sunday, June 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $89.93.

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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