Westfield Capital Management Co. LP increased its position in Microchip Technology Inc. (NASDAQ:MCHP) by 18.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 528,624 shares of the semiconductor company’s stock after purchasing an additional 83,908 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.22% of Microchip Technology worth $45,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners LLC raised its holdings in Microchip Technology by 1.4% in the second quarter. Advisor Partners LLC now owns 8,055 shares of the semiconductor company’s stock worth $698,000 after buying an additional 115 shares during the last quarter. Nicolet Bankshares Inc. lifted its position in Microchip Technology by 1.9% in the 2nd quarter. Nicolet Bankshares Inc. now owns 6,304 shares of the semiconductor company’s stock valued at $547,000 after acquiring an additional 120 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its stake in Microchip Technology by 0.4% during the 2nd quarter. B & T Capital Management DBA Alpha Capital Management now owns 28,599 shares of the semiconductor company’s stock valued at $2,480,000 after purchasing an additional 122 shares during the last quarter. Parallel Advisors LLC boosted its stake in Microchip Technology by 9.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,517 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 126 shares during the last quarter. Finally, CWM Advisors LLC increased its holdings in shares of Microchip Technology by 1.8% in the 2nd quarter. CWM Advisors LLC now owns 7,634 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 134 shares in the last quarter.

NASDAQ:MCHP traded up $2.06 on Wednesday, hitting $94.63. The stock had a trading volume of 142,823 shares, compared to its average volume of 2,395,074. The business’s 50-day simple moving average is $89.50 and its two-hundred day simple moving average is $88.65. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. Microchip Technology Inc. has a 52-week low of $60.70 and a 52-week high of $101.35. The company has a quick ratio of 0.63, a current ratio of 0.93 and a debt-to-equity ratio of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.16. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 EPS. As a group, equities research analysts anticipate that Microchip Technology Inc. will post 5.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.366 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 annualized dividend and a yield of 1.55%. Microchip Technology’s dividend payout ratio (DPR) is presently 24.01%.

Several research analysts have recently weighed in on the company. Longbow Research started coverage on Microchip Technology in a research note on Tuesday, July 9th. They issued a “neutral” rating and a $87.93 price target for the company. Piper Jaffray Companies set a $110.00 price objective on Microchip Technology and gave the company a “buy” rating in a research report on Wednesday, August 7th. B. Riley set a $120.00 price objective on Microchip Technology and gave the company a “buy” rating in a research report on Wednesday, September 4th. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub raised Microchip Technology from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Microchip Technology presently has a consensus rating of “Hold” and a consensus price target of $100.88.

In related news, VP Richard J. Simoncic sold 3,437 shares of Microchip Technology stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $304,518.20. Following the transaction, the vice president now directly owns 18,178 shares in the company, valued at $1,610,570.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 1,937 shares of Microchip Technology stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $171,618.20. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.

Microchip Technology Company 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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