Miles Capital Inc. maintained its position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,322 shares of the semiconductor company’s stock at the close of the 2nd quarter. Miles Capital Inc.’s holdings in Microchip Technology were worth $411,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MCHP. Principal Financial Group Inc. lifted its position in Microchip Technology by 66.5% during the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after acquiring an additional 2,507,707 shares during the period. Vanguard Group Inc. lifted its position in Microchip Technology by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after acquiring an additional 1,042,622 shares during the period. Ameriprise Financial Inc. lifted its position in Microchip Technology by 75.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after acquiring an additional 1,033,992 shares during the period. Renaissance Technologies LLC acquired a new stake in Microchip Technology during the 2nd quarter worth approximately $71,857,000. Finally, Janus Capital Management LLC lifted its position in Microchip Technology by 10.3% during the 1st quarter. Janus Capital Management LLC now owns 7,130,689 shares of the semiconductor company’s stock worth $526,103,000 after acquiring an additional 666,436 shares during the period. 98.68% of the stock is owned by institutional investors.

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A number of equities analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research note on Sunday, June 11th. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus increased their target price on Microchip Technology from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and set a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. Finally, BidaskClub downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $89.44.

Microchip Technology Incorporated (MCHP) traded up 0.72% during trading on Friday, reaching $89.78. The company had a trading volume of 2,194,082 shares. The firm has a market capitalization of $20.89 billion, a P/E ratio of 48.37 and a beta of 1.04. Microchip Technology Incorporated has a 52-week low of $57.52 and a 52-week high of $91.83. The company has a 50-day moving average of $84.85 and a 200-day moving average of $79.71.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The firm had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. Analysts expect that Microchip Technology Incorporated will post $5.27 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a dividend of $0.362 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, August 17th. This represents a $1.45 annualized dividend and a yield of 1.61%. Microchip Technology’s payout ratio is presently 77.54%.

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

About Microchip Technology

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.

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

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