Muhlenkamp & Co. Inc. lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,815 shares of the semiconductor company’s stock after selling 855 shares during the quarter. Microchip Technology makes up approximately 2.8% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 15th biggest holding. Muhlenkamp & Co. Inc.’s holdings in Microchip Technology were worth $8,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in 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 during the last quarter. Fox Run Management L.L.C. boosted its stake in Microchip Technology by 248.8% during the 3rd quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock worth $1,347,000 after acquiring an additional 10,700 shares during the last quarter. Nicolet Bankshares Inc. boosted its stake in Microchip Technology by 0.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 11 shares during the last quarter. 361 Capital LLC boosted its stake in Microchip Technology by 35.3% during the 2nd quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock worth $3,769,000 after acquiring an additional 12,730 shares during the last quarter. Finally, Norinchukin Bank The boosted its stake in Microchip Technology by 13.2% during the 2nd quarter. Norinchukin Bank The now owns 15,920 shares of the semiconductor company’s stock worth $1,229,000 after acquiring an additional 1,857 shares during the last quarter.

Microchip Technology Incorporated (NASDAQ MCHP) opened at $86.58 on Thursday. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a one year low of $60.77 and a one year high of $95.92. The firm has a market cap of $21,187.15, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid 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 1.67%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is presently 58.00%.

In other news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the sale, the vice president now owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Several research analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 4th. Mizuho reissued a “neutral” rating and set a $84.00 price objective (up previously from $80.00) on shares of Microchip Technology in a research note on Wednesday, August 9th. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group reissued a “buy” rating and set a $94.00 price objective (up previously from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. Finally, ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Five research 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’s stock. The company currently has an average rating of “Buy” and an average price target of $99.41.

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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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