Lido Advisors LLC acquired a new stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,507 shares of the semiconductor company’s stock, valued at approximately $318,000.

A number of other institutional investors have also recently bought and sold shares of MCHP. Tredje AP fonden purchased a new stake in Microchip Technology in the second quarter worth about $2,321,000. Assetmark Inc. increased its position in Microchip Technology by 12.8% in the second quarter. Assetmark Inc. now owns 5,742 shares of the semiconductor company’s stock worth $522,000 after buying an additional 650 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Microchip Technology by 15.5% in the second quarter. Segall Bryant & Hamill LLC now owns 720,062 shares of the semiconductor company’s stock worth $65,490,000 after buying an additional 96,445 shares in the last quarter. Sunbelt Securities Inc. increased its position in Microchip Technology by 31.6% in the second quarter. Sunbelt Securities Inc. now owns 4,302 shares of the semiconductor company’s stock worth $391,000 after buying an additional 1,034 shares in the last quarter. Finally, BP PLC purchased a new stake in Microchip Technology in the second quarter worth about $2,638,000.

In other Microchip Technology news, VP Stephen V. Drehobl sold 3,998 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the transaction, the vice president now directly owns 16,931 shares in the company, valued at approximately $1,427,791.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ganesh Moorthy acquired 12,000 shares of Microchip Technology stock in a transaction on Tuesday, August 14th. The shares were purchased at an average price of $84.10 per share, for a total transaction of $1,009,200.00. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

MCHP has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $125.00 price target on shares of Microchip Technology in a research report on Sunday, August 12th. Needham & Company LLC cut their target price on Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Monday, August 13th. Piper Jaffray Companies increased their target price on Microchip Technology from $110.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. ValuEngine cut Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. cut their target price on Microchip Technology from $125.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $115.76.

Shares of NASDAQ MCHP opened at $83.05 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 1.96. Microchip Technology Inc. has a fifty-two week low of $78.33 and a fifty-two week high of $104.20. The company has a market capitalization of $19.56 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.10.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.13. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. equities research analysts anticipate that Microchip Technology Inc. will post 6.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Tuesday, August 21st were issued a dividend of $0.364 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, August 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 28.13%.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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

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