Vestor Capital LLC Decreases Stock Position in Microchip Technology Inc. (NASDAQ:MCHP)

Vestor Capital LLC lessened its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 56.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 569 shares of the semiconductor company’s stock after selling 740 shares during the period. Vestor Capital LLC’s holdings in Microchip Technology were worth $49,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Mid Atlantic Financial Management Inc. ADV increased its stake in Microchip Technology by 7.6% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 14,488 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 1,023 shares during the period. IFG Advisory LLC purchased a new stake in Microchip Technology in the second quarter worth $204,000. Enterprise Trust & Investment Co purchased a new stake in Microchip Technology in the second quarter worth $1,591,000. Sustainable Insight Capital Management LLC increased its stake in Microchip Technology by 68.8% in the second quarter. Sustainable Insight Capital Management LLC now owns 35,100 shares of the semiconductor company’s stock worth $3,043,000 after purchasing an additional 14,300 shares during the period. Finally, Waters Parkerson & CO. LLC increased its stake in Microchip Technology by 2.5% in the second quarter. Waters Parkerson & CO. LLC now owns 165,919 shares of the semiconductor company’s stock worth $14,385,000 after purchasing an additional 4,083 shares during the period.

MCHP stock traded down $4.35 during trading on Friday, reaching $85.23. 94,612 shares of the company traded hands, compared to its average volume of 2,535,570. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $101.35. The business has a 50 day simple moving average of $90.93 and a 200 day simple moving average of $88.80. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.41. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.63 and a current ratio of 0.93.

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, beating analysts’ consensus estimates of $1.25 by $0.16. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Microchip Technology Inc. will post 5.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.366 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.46 dividend on an annualized basis and a yield of 1.72%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio (DPR) is presently 24.01%.

MCHP has been the topic of a number of recent research reports. Longbow Research initiated coverage on Microchip Technology in a research report on Tuesday, July 9th. They set a “neutral” rating and a $87.93 price target on the stock. Needham & Company LLC set a $100.00 price target on Microchip Technology and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. BMO Capital Markets dropped their price target on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $101.76.

About Microchip Technology

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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