Assetmark Inc. lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 458,946 shares of the semiconductor company’s stock after selling 2,703 shares during the period. Assetmark Inc. owned 0.20% of Microchip Technology worth $35,421,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 during the period. State Street Corp raised its holdings in shares of Microchip Technology by 0.7% during the 2nd quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock worth $690,652,000 after acquiring an additional 58,577 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Microchip Technology by 2,959.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock worth $623,093,000 after acquiring an additional 7,809,422 shares during the period. Janus Capital Management LLC raised its holdings 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 during the period. Finally, Waddell & Reed Financial Inc. raised its holdings 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 during the period.

Several research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, August 4th. Mizuho reiterated a “neutral” rating and set a $84.00 price target (up previously from $80.00) on shares of Microchip Technology in a report on Wednesday, August 9th. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $94.00 price target (up previously from $92.00) on shares of Microchip Technology in a report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.94.

Microchip Technology Incorporated (MCHP) traded down 0.04% during trading on Monday, reaching $91.51. The company’s stock had a trading volume of 398,198 shares. The company’s 50-day moving average is $87.44 and its 200-day moving average is $81.08. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $91.99. The company has a market capitalization of $21.30 billion, a P/E ratio of 49.30 and a beta of 1.07.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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 return on equity of 34.33% and a net margin of 12.53%. The company had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. During the same period last year, the business posted $0.84 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. Equities analysts anticipate that Microchip Technology Incorporated will post $5.27 EPS for the current year.

In other Microchip Technology news, VP Stephen V. Drehobl sold 3,076 shares of the firm’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 sale, the vice president now owns 14,263 shares in the company, valued at approximately $1,167,997.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. 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 insiders.

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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.

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

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