British Airways Pensions Investment Management Ltd maintained its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) during the second quarter, Holdings Channel reports. The institutional investor owned 715,210 shares of the company’s stock at the end of the second quarter. British Airways Pensions Investment Management Ltd’s holdings in Microchip Technology were worth $36,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Microchip Technology during the fourth quarter worth approximately $71,235,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Microchip Technology by 4.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 172,710 shares of the company’s stock worth $8,325,000 after buying an additional 7,612 shares during the period. DnB Asset Management AS acquired a new position in shares of Microchip Technology during the first quarter worth approximately $1,101,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Microchip Technology by 8.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,322 shares of the company’s stock worth $2,233,000 after buying an additional 3,474 shares during the period. Finally, Exxonmobil Investment Management Inc. TX raised its position in shares of Microchip Technology by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 49,548 shares of the company’s stock worth $2,388,000 after buying an additional 4,020 shares during the period. Institutional investors own 99.08% of the company’s stock.

Microchip Technology Inc. (NASDAQ:MCHP) traded up 1.53% during trading on Wednesday, reaching $61.12. The company’s stock had a trading volume of 1,424,394 shares. The company’s 50 day moving average price is $60.35 and its 200-day moving average price is $52.84. Microchip Technology Inc. has a 1-year low of $39.01 and a 1-year high of $63.11. The stock has a market cap of $13.16 billion, a P/E ratio of 164.74 and a beta of 1.08.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Microchip Technology had a return on equity of 24.87% and a net margin of 3.28%. The company had revenue of $799.40 million for the quarter, compared to analyst estimates of $821.41 million. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 58.1% compared to the same quarter last year. Equities analysts forecast that Microchip Technology Inc. will post $3.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.36 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, August 18th. This represents a $1.44 annualized dividend and a dividend yield of 2.36%. Microchip Technology’s dividend payout ratio (DPR) is presently 400.00%.

A number of research analysts have recently commented on MCHP shares. Zacks Investment Research lowered Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 7th. Stifel Nicolaus boosted their price objective on Microchip Technology from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. B. Riley restated a “buy” rating and set a $74.00 price objective on shares of Microchip Technology in a research report on Tuesday, August 9th. Needham & Company LLC boosted their price objective on Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $67.00 price objective on shares of Microchip Technology in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $59.34.

In related news, VP Richard J. Simoncic sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $60.47, for a total transaction of $1,209,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,461 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $60.95, for a total value of $149,997.95. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

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.

5 Day Chart for NASDAQ:MCHP

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Inc. (NASDAQ:MCHP).

Receive News & Ratings for Microchip Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.