Sunbelt Securities Inc. lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,161 shares of the semiconductor company’s stock after selling 77 shares during the quarter. Microchip Technology accounts for approximately 0.9% of Sunbelt Securities Inc.’s holdings, making the stock its 27th largest holding. Sunbelt Securities Inc.’s holdings in Microchip Technology were worth $476,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MCHP. Janus Henderson Group PLC raised its stake in 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 worth $623,093,000 after buying an additional 7,809,422 shares during the period. Principal Financial Group Inc. raised its stake 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 buying an additional 2,507,707 shares during the period. Fred Alger Management Inc. raised its stake in Microchip Technology by 80.9% during the 2nd 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. raised its stake 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 buying an additional 1,042,622 shares during the period. Finally, Ameriprise Financial Inc. raised its stake 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 buying an additional 1,033,992 shares during the period.

Several analysts recently commented on the company. Argus assumed coverage on Microchip Technology in a research note on Friday, October 6th. They set a “buy” rating and a $106.00 price objective on the stock. Zacks Investment Research cut Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine cut Microchip Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Stifel Nicolaus reiterated a “buy” rating and set a $94.00 target price on shares of Microchip Technology in a report on Thursday, September 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $94.00 target price on shares of Microchip Technology in a report on Wednesday, September 20th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.94.

Shares of Microchip Technology Incorporated (NASDAQ MCHP) traded up 0.4027% during midday trading on Thursday, reaching $92.3002. 544,691 shares of the company traded hands. The firm has a market capitalization of $21.48 billion, a PE ratio of 49.7307 and a beta of 1.07. The company has a 50-day moving average of $88.28 and a 200 day moving average of $81.55. Microchip Technology Incorporated has a 12-month low of $57.52 and a 12-month high of $92.40.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The firm had revenue of $972.10 million during the quarter, compared to the consensus estimate of $944.87 million. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. On average, equities analysts forecast that Microchip Technology Incorporated will post $5.28 earnings per share for the current year.

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In other news, VP Stephen V. Drehobl sold 3,076 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wade F. Meyercord sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total transaction of $109,135.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,829 shares of company stock valued at $561,905 over the last three months. Insiders own 2.13% of the company’s stock.

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.

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

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