Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 29.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,391 shares of the semiconductor company’s stock after purchasing an additional 4,857 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Microchip Technology were worth $1,923,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Bank of Australia grew its stake in shares of Microchip Technology by 1.4% in the second quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 29 shares during the last quarter. Girard Partners LTD. grew its stake in shares of Microchip Technology by 0.9% in the second quarter. Girard Partners LTD. now owns 3,731 shares of the semiconductor company’s stock worth $288,000 after acquiring an additional 33 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its stake in shares of Microchip Technology by 0.6% in the second quarter. Meiji Yasuda Life Insurance Co now owns 16,221 shares of the semiconductor company’s stock worth $1,252,000 after acquiring an additional 100 shares during the last quarter. Keel Point LLC grew its stake in shares of Microchip Technology by 3.3% in the second quarter. Keel Point LLC now owns 3,694 shares of the semiconductor company’s stock worth $285,000 after acquiring an additional 119 shares during the last quarter. Finally, Global X Management Co. LLC grew its stake in shares of Microchip Technology by 4.7% in the second quarter. Global X Management Co. LLC now owns 2,690 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 120 shares during the last quarter.

MCHP has been the topic of several research analyst reports. Jefferies Group restated a “buy” rating and issued a $106.00 price objective on shares of Microchip Technology in a research note on Thursday, October 19th. SunTrust Banks restated a “hold” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, October 12th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price objective on shares of Microchip Technology in a research note on Wednesday, September 20th. Argus initiated coverage on shares of Microchip Technology in a research note on Friday, October 6th. They issued a “buy” rating and a $106.00 price objective on the stock. Finally, B. Riley restated a “buy” rating and issued a $123.00 price objective (up previously from $120.00) on shares of Microchip Technology in a research note 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 an average rating of “Buy” and a consensus target price of $99.71.

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

Shares of Microchip Technology Incorporated (NASDAQ MCHP) opened at $86.75 on Friday. Microchip Technology Incorporated has a 52 week low of $62.21 and a 52 week 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 firm has a market cap of $19,991.90, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The business’s revenue was up 16.2% compared to the same quarter last year. equities analysts forecast that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were paid a dividend of $0.3625 per share. The ex-dividend date was Monday, November 20th. This represents a $1.45 dividend on an annualized basis and a yield of 1.67%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 58.00%.

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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.

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

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