Flinton Capital Management LLC raised its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 21.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,216 shares of the semiconductor company’s stock after buying an additional 3,024 shares during the period. Flinton Capital Management LLC’s holdings in Microchip Technology were worth $1,566,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Townsend & Associates Inc increased its holdings in Microchip Technology by 6.1% in the second quarter. Townsend & Associates Inc now owns 9,413 shares of the semiconductor company’s stock valued at $856,000 after buying an additional 539 shares in the last quarter. Capital Analysts LLC increased its holdings in Microchip Technology by 1.6% in the second quarter. Capital Analysts LLC now owns 34,565 shares of the semiconductor company’s stock valued at $3,144,000 after buying an additional 543 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in Microchip Technology by 0.7% in the second quarter. Gulf International Bank UK Ltd now owns 73,979 shares of the semiconductor company’s stock valued at $6,728,000 after buying an additional 550 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Microchip Technology by 1.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,500 shares of the semiconductor company’s stock valued at $4,248,000 after buying an additional 600 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Microchip Technology by 3.3% in the second quarter. Stephens Inc. AR now owns 18,796 shares of the semiconductor company’s stock valued at $1,710,000 after buying an additional 600 shares in the last quarter.

In other news, COO Ganesh Moorthy bought 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average price of $84.10 per share, for a total transaction of $1,009,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 3,998 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the sale, the vice president now owns 16,931 shares in the company, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on the stock. BidaskClub cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. ValuEngine lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Needham & Company LLC lowered their price target on shares of Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $125.00 price target on shares of Microchip Technology in a research report on Sunday, August 12th. Finally, TheStreet lowered shares of Microchip Technology from an “a-” rating to a “c+” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $115.76.

MCHP stock opened at $83.05 on Monday. The company has a market capitalization of $19.56 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. Microchip Technology Inc. has a 12 month low of $78.33 and a 12 month high of $104.20. 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 released its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.48 by $0.13. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business earned $1.31 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. equities analysts anticipate that Microchip Technology Inc. will post 6.51 EPS for the current fiscal year.

The company also recently announced 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. The ex-dividend date was Monday, August 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.

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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