Partnervest Advisory Services LLC raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,760 shares of the semiconductor company’s stock after buying an additional 165 shares during the period. Partnervest Advisory Services LLC’s holdings in Microchip Technology were worth $522,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MCHP. Grove Bank & Trust raised its position in 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 period. Duncker Streett & Co. Inc. raised its position in 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 period. Trust Co. of Vermont raised its position in 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 period. Smithfield Trust Co. raised its position in 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 period. Finally, Advisory Services Network LLC acquired a new position in Microchip Technology during the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 98.67% of the company’s stock.

Microchip Technology Incorporated (NASDAQ MCHP) opened at 83.60 on Thursday. The stock has a market cap of $19.46 billion, a P/E ratio of 45.04 and a beta of 1.06. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $87.49. The company has a 50-day moving average of $80.45 and a 200 day moving average of $76.68.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders 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. The ex-dividend date is Thursday, August 17th. This represents a $1.45 annualized dividend and a dividend yield of 1.73%. Microchip Technology’s payout ratio is presently 77.54%.

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Several equities analysts have commented on MCHP shares. B. Riley reiterated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Monday, May 8th. Citigroup Inc. set a $95.00 price objective on shares of Microchip Technology and gave the company a “buy” rating in a research report on Wednesday, May 10th. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Rosenblatt Securities reiterated a “buy” rating and set a $102.00 price objective (up previously from $100.00) on shares of Microchip Technology in a research report on Tuesday, June 6th. Finally, BidaskClub lowered shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $88.80.

In other news, VP Stephen V. Drehobl sold 3,974 shares of the business’s 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 owns 14,263 shares of the company’s stock, valued at approximately $1,145,176.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 2,510 shares of the business’s 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 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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