Trexquant Investment LP boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 96.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,800 shares of the semiconductor company’s stock after buying an additional 3,344 shares during the period. Trexquant Investment LP’s holdings in Microchip Technology were worth $525,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MCHP. Grove Bank & Trust increased 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 worth $107,000 after buying an additional 190 shares during the period. Trust Co. of Vermont increased 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 worth $125,000 after buying an additional 136 shares during the period. Smithfield Trust Co. increased 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 worth $126,000 after buying an additional 7 shares during the period. Duncker Streett & Co. Inc. increased 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 worth $125,000 after buying an additional 503 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Microchip Technology during the first quarter worth approximately $135,000. Institutional investors own 98.67% of the company’s stock.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at 82.21 on Friday. The company’s 50 day moving average price is $80.52 and its 200 day moving average price is $76.82. Microchip Technology Incorporated has a one year low of $57.52 and a one year high of $87.49. The stock has a market capitalization of $19.13 billion, a P/E ratio of 44.29 and a beta of 1.06.

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

The firm also recently disclosed 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 represents a $1.45 annualized dividend and a dividend yield of 1.76%. 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. Microchip Technology’s payout ratio is currently 77.54%.

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A number of equities analysts have recently commented on the company. B. Riley restated a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Monday, May 8th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Group LLC restated a “buy” rating and issued a $94.00 price objective (up from $92.00) on shares of Microchip Technology in a report on Friday, August 4th. Mizuho restated a “neutral” rating and issued a $84.00 price objective (up from $80.00) on shares of Microchip Technology in a report on Wednesday. Finally, Credit Suisse Group restated a “buy” rating on shares of Microchip Technology in a report on Friday, August 4th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $88.80.

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

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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