Asset Management One Co. Ltd. decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,306 shares of the semiconductor company’s stock after selling 50,253 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Microchip Technology worth $32,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Retirement Systems of Alabama grew its position in Microchip Technology by 6.3% during the 2nd quarter. Retirement Systems of Alabama now owns 111,224 shares of the semiconductor company’s stock worth $8,584,000 after purchasing an additional 6,606 shares during the period. Global X Management Co. LLC grew its position in Microchip Technology by 4.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,690 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 120 shares during the period. Trexquant Investment LP grew its position in Microchip Technology by 96.8% during the 2nd quarter. Trexquant Investment LP now owns 6,800 shares of the semiconductor company’s stock worth $525,000 after purchasing an additional 3,344 shares during the period. Canada Pension Plan Investment Board grew its position in Microchip Technology by 73,427.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 46,322 shares of the semiconductor company’s stock worth $3,575,000 after purchasing an additional 46,259 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in Microchip Technology by 7.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 721,944 shares of the semiconductor company’s stock worth $55,720,000 after purchasing an additional 51,287 shares during the period.

Shares of Microchip Technology Incorporated (NASDAQ MCHP) opened at $87.41 on Friday. Microchip Technology Incorporated has a 12-month low of $62.21 and a 12-month high of $95.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The company has a market capitalization of $20,440.99, a PE ratio of 18.51, a PEG ratio of 1.40 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating 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 firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $0.94 EPS. The company’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 fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were given a dividend of $0.3625 per share. The ex-dividend date was Monday, November 20th. This is a boost 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 1.66%. Microchip Technology’s dividend payout ratio (DPR) is 58.00%.

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

MCHP has been the topic of several analyst reports. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Friday, November 10th. Jefferies Group increased their price target on Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Tuesday, November 7th. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $110.00 price target (up from $95.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Microchip Technology presently has a consensus rating of “Buy” and a consensus price target of $99.41.

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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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