Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 1.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 748,319 shares of the semiconductor company’s stock after acquiring an additional 12,437 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Microchip Technology were worth $59,050,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. M. Kraus & Co lifted its holdings in Microchip Technology by 70.3% during the 3rd quarter. M. Kraus & Co now owns 43,995 shares of the semiconductor company’s stock valued at $3,472,000 after purchasing an additional 18,160 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Microchip Technology in the second quarter worth about $34,037,000. BKD Wealth Advisors LLC raised its stake in shares of Microchip Technology by 4.5% in the third quarter. BKD Wealth Advisors LLC now owns 45,917 shares of the semiconductor company’s stock worth $3,623,000 after acquiring an additional 1,982 shares during the last quarter. Tredje AP fonden bought a new position in shares of Microchip Technology in the second quarter worth about $2,321,000. Finally, Exane Derivatives raised its stake in shares of Microchip Technology by 63.7% in the third quarter. Exane Derivatives now owns 40,838 shares of the semiconductor company’s stock worth $3,221,000 after acquiring an additional 15,890 shares during the last quarter.

Shares of NASDAQ MCHP opened at $75.61 on Monday. The company has a market cap of $17.88 billion, a P/E ratio of 14.57, a PEG ratio of 0.94 and a beta of 1.24. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.85. Microchip Technology Inc. has a 52-week low of $60.70 and a 52-week high of $104.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Microchip Technology had a net margin of 0.59% and a return on equity of 35.00%. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, equities research analysts predict that Microchip Technology Inc. will post 5.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be issued a $0.3645 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is 28.13%.

Several equities research analysts have recently commented on MCHP shares. BidaskClub cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Piper Jaffray Companies lifted their price target on shares of Microchip Technology from $110.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 1st. KeyCorp lowered their price target on shares of Microchip Technology from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, August 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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, eight have issued a hold rating and twelve have issued a buy rating to the stock. Microchip Technology has an average rating of “Buy” and a consensus price target of $104.42.

In other news, VP Stephen V. Drehobl sold 3,998 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total value of $337,151.34. Following the completion of the transaction, the vice president now owns 16,931 shares in the company, valued at $1,427,791.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,887 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total transaction of $159,130.71. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

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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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