Strategy Asset Managers LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,403 shares of the semiconductor company’s stock after selling 18,669 shares during the quarter. Microchip Technology makes up 3.0% of Strategy Asset Managers LLC’s holdings, making the stock its 2nd largest position. Strategy Asset Managers LLC owned 0.07% of Microchip Technology worth $14,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smithfield Trust Co. lifted its stake in shares of Microchip Technology by 0.4% during 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 during the last quarter. Nicolet Bankshares Inc. grew its holdings in Microchip Technology by 0.3% in the second quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 11 shares during the period. Commonwealth Bank of Australia grew its holdings in Microchip Technology by 1.4% in the second 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. Girard Partners LTD. grew its holdings in Microchip Technology by 0.9% in the second quarter. Girard Partners LTD. now owns 3,731 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 33 shares during the period. Finally, LS Investment Advisors LLC grew its holdings in Microchip Technology by 0.9% in the second quarter. LS Investment Advisors LLC now owns 7,649 shares of the semiconductor company’s stock valued at $590,000 after purchasing an additional 68 shares during the period.

Several analysts have commented on the company. J P Morgan Chase & Co reissued an “overweight” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Tuesday, November 7th. Needham & Company LLC raised their price objective on Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 7th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (up from $94.00) on shares of Microchip Technology in a report on Tuesday, November 7th. B. Riley reissued a “buy” rating and issued a $123.00 price objective (up from $120.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Finally, Jefferies Group LLC raised their price objective on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $99.41.

In other Microchip Technology news, Director Wade F. Meyercord sold 1,300 shares of Microchip Technology stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value 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 disclosure for this sale can be found here. Insiders sold 6,829 shares of company stock worth $561,905 in the last 90 days. Company insiders own 2.13% of the company’s stock.

Microchip Technology Incorporated (MCHP) traded up $0.75 during trading hours on Monday, reaching $91.56. The company’s stock had a trading volume of 1,827,100 shares, compared to its average volume of 2,562,826. Microchip Technology Incorporated has a 12 month low of $60.77 and a 12 month high of $95.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. The stock has a market capitalization of $21,310.00, a P/E ratio of 19.40, a P/E/G ratio of 1.46 and a beta of 1.05.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. equities analysts expect that Microchip Technology Incorporated will post 5.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a $0.3625 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.45 dividend on an annualized basis and a yield of 1.58%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 58.00%.

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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.

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

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