Van ECK Associates Corp grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 68.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 395,370 shares of the semiconductor company’s stock after purchasing an additional 159,972 shares during the period. Van ECK Associates Corp owned approximately 0.17% of Microchip Technology worth $35,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MCHP. Janus Henderson Group PLC boosted its position in shares of Microchip Technology by 2,959.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock valued at $623,093,000 after purchasing an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Microchip Technology by 66.5% in the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after buying an additional 2,507,707 shares during the period. Fred Alger Management Inc. boosted its holdings in shares of Microchip Technology by 80.9% in the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after buying an additional 1,497,699 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Microchip Technology by 4.6% in the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after buying an additional 1,042,622 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Microchip Technology by 75.5% in the second quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after buying an additional 1,033,992 shares during the period.

Several research analysts have commented on MCHP shares. Jefferies Group LLC reiterated a “buy” rating and issued a $106.00 target price on shares of Microchip Technology in a report on Thursday, October 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $90.00 target price on shares of Microchip Technology in a report on Thursday, October 12th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 target price on shares of Microchip Technology in a report on Wednesday, September 20th. Argus started coverage on shares of Microchip Technology in a report on Friday, October 6th. They issued a “buy” rating and a $106.00 target price for the company. Finally, B. Riley reiterated a “buy” rating and issued a $123.00 target price (up from $120.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $99.41.

Microchip Technology Incorporated (NASDAQ:MCHP) opened at $90.97 on Friday. The firm has a market cap of $21,145.05, a P/E ratio of 19.15, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. equities analysts expect that Microchip Technology Incorporated will post 5.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is presently 58.00%.

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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.

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

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