Bank of The Ozarks reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 4,710 shares of the semiconductor company’s stock after selling 120 shares during the period. Bank of The Ozarks’ holdings in Microchip Technology were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Grove Bank & Trust increased 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 during the last quarter. Duncker Streett & Co. Inc. increased 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 during the last quarter. Trust Co. of Vermont increased 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 during the last quarter. Smithfield Trust Co. increased its position in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 7 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Microchip Technology during the first quarter valued at $135,000. 98.67% of the stock is owned by institutional investors.

Shares of Microchip Technology Incorporated (MCHP) opened at 83.60 on Thursday. Microchip Technology Incorporated has a 12 month low of $57.52 and a 12 month high of $87.49. The stock has a market capitalization of $19.18 billion, a PE ratio of 118.58 and a beta of 1.06. The company’s 50 day moving average price is $80.45 and its 200 day moving average price is $76.68.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million during the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. Microchip Technology’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Equities analysts anticipate that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.

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

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Several research analysts have recently weighed in on MCHP shares. Stifel Nicolaus upped their target price on Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Citigroup Inc. set a $95.00 target price on Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Wednesday, May 10th. BidaskClub downgraded Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.80.

In other Microchip Technology news, VP Stephen V. Drehobl sold 3,974 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total transaction of $319,072.46. Following the completion of the transaction, the vice president now owns 14,263 shares of the company’s stock, valued at $1,145,176.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,510 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total value of $201,527.90. The disclosure for this sale can be found here. 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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