SVA Plumb Wealth Management LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,765 shares of the semiconductor company’s stock after selling 1,138 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Microchip Technology were worth $7,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Riverhead Capital Management LLC lifted its position in shares of Microchip Technology by 5.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 19,230 shares of the semiconductor company’s stock worth $1,484,000 after buying an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Microchip Technology by 19.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,847 shares of the semiconductor company’s stock worth $606,000 after buying an additional 1,271 shares in the last quarter. Trust Co. of Virginia VA lifted its position in shares of Microchip Technology by 0.3% during the 2nd quarter. Trust Co. of Virginia VA now owns 130,555 shares of the semiconductor company’s stock worth $10,076,000 after buying an additional 330 shares in the last quarter. Aberdeen Asset Management PLC UK lifted its position in shares of Microchip Technology by 41.7% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 57,466 shares of the semiconductor company’s stock worth $4,435,000 after buying an additional 16,904 shares in the last quarter. Finally, HPM Partners LLC lifted its position in shares of Microchip Technology by 76.3% during the 2nd quarter. HPM Partners LLC now owns 17,185 shares of the semiconductor company’s stock worth $623,000 after buying an additional 7,437 shares in the last quarter. 98.68% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts have commented on the stock. B. Riley reissued a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research report on Sunday, June 11th. BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Stifel Nicolaus lifted their target price on shares of Microchip Technology from $88.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Microchip Technology in a research report on Friday, June 16th. They set an “outperform” rating and a $95.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $88.80.

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.32% during midday trading on Tuesday, reaching $88.10. 353,403 shares of the company’s stock were exchanged. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of 47.47 and a beta of 1.04. The firm has a 50 day moving average of $83.22 and a 200-day moving average of $78.92. Microchip Technology Incorporated has a one year low of $57.52 and a one year high of $88.89.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were given a $0.362 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.64%. Microchip Technology’s dividend payout ratio (DPR) is presently 77.54%.

In other Microchip Technology news, Director Wade F. Meyercord sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 2,453 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. Insiders sold 6,829 shares of company stock worth $561,905 over the last quarter. Insiders own 2.13% of the company’s stock.

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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