Stephens Investment Management Group LLC lifted its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 432,467 shares of the semiconductor company’s stock after buying an additional 4,060 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.18% of Microchip Technology worth $39,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Richard Bernstein Advisors LLC grew its position in shares of Microchip Technology by 47.6% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 6,800 shares of the semiconductor company’s stock worth $618,000 after buying an additional 2,193 shares in the last quarter. NumerixS Investment Technologies Inc grew its position in shares of Microchip Technology by 106.5% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the semiconductor company’s stock worth $579,000 after buying an additional 3,300 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Microchip Technology by 9.8% during the 2nd quarter. Federated Investors Inc. PA now owns 23,994 shares of the semiconductor company’s stock worth $2,183,000 after buying an additional 2,133 shares in the last quarter. Riverhead Capital Management LLC grew its position in shares of Microchip Technology by 16.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 24,792 shares of the semiconductor company’s stock worth $2,255,000 after buying an additional 3,474 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Microchip Technology by 153.5% during the 2nd quarter. Sentry Investment Management LLC now owns 15,362 shares of the semiconductor company’s stock worth $1,397,000 after buying an additional 9,303 shares in the last quarter.

Shares of NASDAQ MCHP opened at $85.69 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market cap of $20.61 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.92 and a beta of 1.13. Microchip Technology Inc. has a 1-year low of $78.33 and a 1-year high of $104.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.13. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. equities analysts forecast that Microchip Technology Inc. will post 6.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st will be paid a dividend of $0.364 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, August 20th. Microchip Technology’s dividend payout ratio is 28.13%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,887 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total value of $159,130.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ganesh Moorthy purchased 12,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $84.10 per share, with a total value of $1,009,200.00. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

A number of research firms have recently issued reports on MCHP. BidaskClub downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. SunTrust Banks increased their price target on Microchip Technology from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. TheStreet downgraded Microchip Technology from an “a-” rating to a “c+” rating in a research report on Thursday, August 9th. ValuEngine downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, Needham & Company LLC dropped their price target on Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $115.76.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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

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