Empirical Financial Services LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,415 shares of the semiconductor company’s stock, valued at approximately $1,384,000.

A number of other large investors also recently bought and sold shares of MCHP. Smithfield Trust Co. raised its holdings 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 acquiring an additional 7 shares in the last quarter. Nicolet Bankshares Inc. raised its stake in Microchip Technology by 0.3% in the 2nd quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 11 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in Microchip Technology by 1.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 29 shares during the period. Girard Partners LTD. grew its holdings in shares of Microchip Technology by 0.9% during the 2nd quarter. Girard Partners LTD. now owns 3,731 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 33 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its holdings in shares of Microchip Technology by 0.6% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 16,221 shares of the semiconductor company’s stock worth $1,252,000 after purchasing an additional 100 shares during the period.

MCHP has been the subject of a number of analyst reports. Credit Suisse Group restated a “buy” rating on shares of Microchip Technology in a report on Friday, August 4th. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Friday, November 10th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group raised their target price on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $120.00 target price on shares of Microchip Technology in a research note on Tuesday, November 7th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $99.41.

Shares of Microchip Technology Incorporated (MCHP) opened at $86.99 on Friday. The stock has a market capitalization of $21,187.15, a PE ratio of 19.19, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. Microchip Technology Incorporated has a one year low of $60.77 and a one year high of $95.92.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business earned $0.94 EPS. The business’s quarterly revenue was up 16.2% on a year-over-year basis. analysts predict that Microchip Technology Incorporated will post 5.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.67%. Microchip Technology’s dividend payout ratio (DPR) is 58.00%.

In other news, CFO James Eric Bjornholt sold 1,801 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

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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.

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

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