HighPoint Advisor Group LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,547 shares of the semiconductor company’s stock, valued at approximately $892,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after acquiring an additional 1,042,622 shares in the last quarter. State Street Corp grew its stake in shares of Microchip Technology by 0.7% during the second quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock valued at $690,652,000 after acquiring an additional 58,577 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Microchip Technology by 2,959.9% during the second quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock valued at $623,093,000 after acquiring an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Microchip Technology by 66.5% during the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after acquiring an additional 2,507,707 shares in the last quarter. Finally, Fred Alger Management Inc. grew its stake in shares of Microchip Technology by 80.9% during the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after acquiring an additional 1,497,699 shares in the last quarter.

Shares of Microchip Technology Incorporated (MCHP) traded down $0.37 during midday trading on Tuesday, reaching $90.65. 857,188 shares of the company’s stock were exchanged, compared to its average volume of 2,557,513. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 1 year low of $60.77 and a 1 year high of $95.92. The company has a market capitalization of $21,416.38, a PE ratio of 19.40, a P/E/G ratio of 1.46 and a beta of 1.05.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 58.00%.

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In other news, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The shares were 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. Insiders own 2.13% of the company’s stock.

Several analysts have recently weighed in on the company. J P Morgan Chase & Co restated an “overweight” rating and set a $120.00 target price on shares of Microchip Technology in a research note on Tuesday, November 7th. Needham & Company LLC increased their price target on shares of Microchip Technology from $120.00 to $130.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (up previously from $94.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating and set a $123.00 price target (up previously from $120.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Finally, Jefferies Group LLC increased their price target on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a research 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 issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $99.41.

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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