Opus Investment Management Inc. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,400 shares of the semiconductor company’s stock after selling 5,000 shares during the period. Opus Investment Management Inc.’s holdings in Microchip Technology were worth $5,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its position in shares of Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 190 shares in the last quarter. Duncker Streett & Co. Inc. raised its position in shares of Microchip Technology by 42.2% in the first quarter. Duncker Streett & Co. Inc. now owns 1,696 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 503 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 136 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Microchip Technology during the first quarter valued at $135,000. Finally, Webster Bank N. A. raised its position in shares of Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at 83.49 on Friday. The company has a market capitalization of $19.15 billion, a P/E ratio of 118.43 and a beta of 1.06. The stock’s 50 day moving average is $80.29 and its 200 day moving average is $76.10. Microchip Technology Incorporated has a 52-week low of $54.81 and a 52-week high of $87.49.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 36.27%. The company had revenue of $972.10 million during the quarter, compared to analysts’ expectations of $944.87 million. During the same period last year, the company posted $0.84 EPS. Microchip Technology’s revenue was up 21.6% on a year-over-year basis. Equities analysts expect that Microchip Technology Incorporated will post $4.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a dividend of $0.362 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 17th. Microchip Technology’s dividend payout ratio (DPR) is 77.54%.

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Several equities analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 price objective on shares of Microchip Technology in a report on Friday. Needham & Company LLC reiterated a “buy” rating on shares of Microchip Technology in a report on Friday. B. Riley reiterated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday. BidaskClub lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. assumed coverage on shares of Microchip Technology in a report on Friday, June 16th. They set an “outperform” rating and a $95.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $86.00.

In related news, CFO James Eric Bjornholt sold 2,510 shares of Microchip Technology stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 3,974 shares of Microchip Technology stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $319,072.46. Following the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at $1,145,176.27. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Microchip Technology Company 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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