Mirador Capital Partners LP purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, Holdings Channel reports. The fund purchased 2,803 shares of the semiconductor company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently added to or reduced their stakes in MCHP. Duncker Streett & Co. Inc. boosted its position in Microchip Technology by 42.2% in the first quarter. Duncker Streett & Co. Inc. now owns 1,696 shares of the semiconductor company’s stock worth $125,000 after buying an additional 503 shares in the last quarter. Advisory Services Network LLC bought a new position in Microchip Technology during the first quarter worth $135,000. Webster Bank N. A. boosted its position in Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock worth $146,000 after buying an additional 800 shares in the last quarter. First Personal Financial Services boosted its position in Microchip Technology by 158.9% in the first quarter. First Personal Financial Services now owns 2,760 shares of the semiconductor company’s stock worth $204,000 after buying an additional 1,694 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new position in Microchip Technology during the first quarter worth $214,000. Hedge funds and other institutional investors own 98.66% of the company’s stock.

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

Microchip Technology Incorporated (NASDAQ:MCHP) traded down 0.42% during midday trading on Friday, hitting $81.23. The company had a trading volume of 4,066,842 shares. The company’s 50 day moving average is $80.58 and its 200-day moving average is $72.56. The company has a market cap of $18.63 billion, a P/E ratio of 115.22 and a beta of 1.05. Microchip Technology Incorporated has a one year low of $47.81 and a one year high of $87.49.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.10. Microchip Technology had a return on equity of 31.64% and a net margin of 4.83%. The company had revenue of $902.70 million for the quarter, compared to analyst estimates of $891.14 million. During the same quarter last year, the firm earned $0.70 EPS. Microchip Technology’s revenue for the quarter was up 61.9% compared to the same quarter last year. On average, equities analysts predict that Microchip Technology Incorporated will post $4.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.3615 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, May 19th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is presently 226.57%.

WARNING: This article was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.watchlistnews.com/2803-shares-in-microchip-technology-incorporated-mchp-acquired-by-mirador-capital-partners-lp/1372517.html.

MCHP has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a report on Monday, May 8th. Stifel Nicolaus increased their target price on Microchip Technology from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Summit Redstone upgraded Microchip Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $82.00 in a research note on Tuesday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Friday, March 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 23rd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.25.

In other news, VP Stephen V. Drehobl sold 3,974 shares of Microchip Technology stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total transaction of $319,072.46. Following the sale, the vice president now owns 14,263 shares of the company’s stock, valued at approximately $1,145,176.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 2,510 shares of Microchip Technology stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total value of $201,527.90. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP).

Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.