Park National Corp OH purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,556 shares of the semiconductor company’s stock, valued at approximately $229,000.

Other hedge funds have also made changes to their positions in the company. Grove Bank & Trust lifted its stake in shares of Microchip Technology by 15.8% during 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 in the last quarter. Trust Co. of Vermont lifted its stake in Microchip Technology by 9.2% in the 2nd quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 136 shares in the last quarter. Smithfield Trust Co. lifted its stake in Microchip Technology by 0.4% in the 2nd quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Microchip Technology by 1.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 29 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Microchip Technology in the 1st quarter worth approximately $173,000.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.79% during midday trading on Wednesday, reaching $90.98. 619,275 shares of the company’s stock were exchanged. The stock has a market cap of $21.17 billion, a PE ratio of 49.02 and a beta of 1.07. The stock’s 50 day moving average is $88.98 and its 200-day moving average is $81.87. Microchip Technology Incorporated has a 12-month low of $58.42 and a 12-month high of $92.51.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $944.87 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. On average, equities analysts expect that Microchip Technology Incorporated will post $5.28 EPS for the current year.

In other Microchip Technology news, Director Wade F. Meyercord sold 1,300 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available at the SEC website. Also, VP Stephen V. Drehobl sold 3,076 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $251,893.64. Following the transaction, the vice president now owns 14,263 shares in the company, valued at approximately $1,167,997.07. The disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock worth $561,905 in the last quarter. Company insiders own 2.13% of the company’s stock.

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Several analysts have issued reports on MCHP shares. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Friday, September 8th. B. Riley reiterated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. BidaskClub cut shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Microchip Technology in a research note on Friday, August 4th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Microchip Technology has an average rating of “Buy” and a consensus target price of $90.88.

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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