RNC Capital Management LLC lowered its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,056 shares of the semiconductor company’s stock after selling 429 shares during the quarter. RNC Capital Management LLC’s holdings in Microchip Technology were worth $751,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. raised its position in Microchip Technology by 19.3% in the 4th quarter. Webster Bank N. A. now owns 864 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 140 shares during the period. Dubuque Bank & Trust Co. grew its holdings in Microchip Technology by 4.6% in the 1st quarter. Dubuque Bank & Trust Co. now owns 3,163 shares of the semiconductor company’s stock worth $262,000 after acquiring an additional 140 shares during the last quarter. Naples Global Advisors LLC grew its holdings in Microchip Technology by 0.6% in the 4th quarter. Naples Global Advisors LLC now owns 31,545 shares of the semiconductor company’s stock worth $2,417,000 after acquiring an additional 175 shares during the last quarter. Harvest Investment Services LLC grew its holdings in Microchip Technology by 6.5% in the 1st quarter. Harvest Investment Services LLC now owns 3,079 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 189 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Microchip Technology by 0.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 45,924 shares of the semiconductor company’s stock worth $3,303,000 after acquiring an additional 224 shares during the last quarter.

Shares of MCHP traded down $0.41 during trading hours on Thursday, reaching $98.86. 467,969 shares of the company traded hands, compared to its average volume of 2,906,095. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.16 and a beta of 1.23. The company has a current ratio of 2.92, a quick ratio of 1.83 and a debt-to-equity ratio of 2.04. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $104.20.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.21. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. On average, research analysts forecast that Microchip Technology Inc. will post 5.9 EPS for the current fiscal year.

A number of brokerages have issued reports on MCHP. BidaskClub raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Zacks Investment Research lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 11th. Cowen began coverage on shares of Microchip Technology in a report on Friday, February 22nd. They issued a “market perform” rating and a $90.00 price target on the stock. TheStreet raised shares of Microchip Technology from a “c+” rating to a “b-” rating in a report on Thursday, February 21st. Finally, Needham & Company LLC lowered shares of Microchip Technology from a “strong-buy” rating to a “buy” rating and cut their price target for the stock from $100.00 to $90.00 in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. Microchip Technology presently has a consensus rating of “Buy” and a consensus price target of $102.17.

In other Microchip Technology news, Director L B. Day sold 3,500 shares of Microchip Technology stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $84.82, for a total value of $296,870.00. Following the completion of the transaction, the director now directly owns 9,238 shares of the company’s stock, valued at $783,567.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew W. Chapman sold 4,660 shares of Microchip Technology stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $91.04, for a total transaction of $424,246.40. Following the completion of the transaction, the director now directly owns 19,080 shares of the company’s stock, valued at $1,737,043.20. The disclosure for this sale can be found here. Insiders have sold 14,101 shares of company stock worth $1,258,210 in the last three months. 2.13% of the stock is currently owned by insiders.

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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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