Disciplined Growth Investors Inc. MN lessened its position in Microchip Technology Inc. (NASDAQ:MCHP) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 923,155 shares of the semiconductor company’s stock after selling 9,143 shares during the quarter. Microchip Technology makes up about 1.6% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 25th largest holding. Disciplined Growth Investors Inc. MN’s holdings in Microchip Technology were worth $83,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Signaturefd LLC purchased a new position in shares of Microchip Technology in the first quarter valued at approximately $131,000. Riverhead Capital Management LLC lifted its position in shares of Microchip Technology by 15.7% in the first quarter. Riverhead Capital Management LLC now owns 21,318 shares of the semiconductor company’s stock valued at $1,948,000 after acquiring an additional 2,891 shares in the last quarter. Twin Tree Management LP lifted its position in shares of Microchip Technology by 70.0% in the first quarter. Twin Tree Management LP now owns 3,756 shares of the semiconductor company’s stock valued at $343,000 after acquiring an additional 1,546 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Microchip Technology by 4.0% in the first quarter. Eagle Asset Management Inc. now owns 735,584 shares of the semiconductor company’s stock valued at $67,202,000 after acquiring an additional 28,068 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Microchip Technology in the first quarter valued at approximately $250,000.

Shares of Microchip Technology stock opened at $83.60 on Friday. Microchip Technology Inc. has a one year low of $78.33 and a one year high of $104.20. The company has a market cap of $19.66 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.87 and a beta of 1.09. 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 (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 EPS for the quarter, topping the Zacks’ 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 quarter last year, the business posted $1.31 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. research analysts predict that Microchip Technology Inc. will post 6.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st were given a dividend of $0.364 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, August 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.74%. Microchip Technology’s dividend payout ratio (DPR) is presently 28.13%.

Several equities analysts have recently weighed in on the company. BidaskClub downgraded Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Argus raised their target price on Microchip Technology to $115.00 and gave the company an “average” rating in a research report on Monday, June 25th. They noted that the move was a valuation call. Rosenblatt Securities restated a “buy” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Wednesday, June 6th. Finally, Morgan Stanley raised their target price on Microchip Technology from $97.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.76.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,887 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 $159,130.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $337,151.34. Following the sale, the vice president now directly owns 16,931 shares of the company’s stock, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

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.

Read More: Stock Symbol

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

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