First Capital Advisors Group LLC. trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,656 shares of the semiconductor company’s stock after selling 4,071 shares during the period. First Capital Advisors Group LLC.’s holdings in Microchip Technology were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its position in Microchip Technology by 1.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 311,699 shares of the semiconductor company’s stock worth $27,984,000 after purchasing an additional 3,410 shares during the period. Decatur Capital Management Inc. boosted its position in Microchip Technology by 6.1% during the 3rd quarter. Decatur Capital Management Inc. now owns 130,862 shares of the semiconductor company’s stock worth $11,749,000 after purchasing an additional 7,475 shares during the period. Csenge Advisory Group purchased a new stake in Microchip Technology during the 3rd quarter worth $1,001,000. Dupont Capital Management Corp boosted its position in Microchip Technology by 574.3% during the 3rd quarter. Dupont Capital Management Corp now owns 57,968 shares of the semiconductor company’s stock worth $5,204,000 after purchasing an additional 49,371 shares during the period. Finally, Markel Corp purchased a new stake in Microchip Technology during the 3rd quarter worth $718,000.

Shares of Microchip Technology Incorporated (MCHP) traded up $0.20 during trading on Friday, hitting $93.66. 1,387,652 shares of the stock were exchanged, compared to its average volume of 1,432,042. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 0.87. The firm has a market cap of $21,796.93, a price-to-earnings ratio of 22.04, a PEG ratio of 2.38 and a beta of 1.05. Microchip Technology Incorporated has a 1-year low of $59.45 and a 1-year high of $95.69.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The business had revenue of $972.10 million for the quarter, compared to analyst estimates of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. equities analysts expect that Microchip Technology Incorporated will post 4.93 EPS for the current year.

In other news, VP Stephen V. Drehobl sold 3,076 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the sale, the vice president now owns 14,263 shares of the company’s stock, valued at $1,167,997.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wade F. Meyercord sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $83.95, for a total transaction of $109,135.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,829 shares of company stock worth $561,905. 2.13% of the stock is currently owned by insiders.

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A number of analysts recently weighed in on MCHP shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Monday, July 10th. BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. B. Riley reaffirmed a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target (up from $100.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.75.

Microchip Technology 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.

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

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