BB&T Investment Services Inc. Takes $1.01 Million Position in Microchip Technology Incorporated (MCHP)

BB&T Investment Services Inc. acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,152 shares of the semiconductor company’s stock, valued at approximately $1,007,000.

Several other institutional investors have also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. lifted its position in Microchip Technology by 4.6% in 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 during the last quarter. State Street Corp lifted its position in Microchip Technology by 0.7% in 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 during the last quarter. Janus Henderson Group PLC lifted its position in Microchip Technology by 2,959.9% in 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 during the last quarter. Janus Capital Management LLC lifted its position in Microchip Technology by 10.3% in the first quarter. Janus Capital Management LLC now owns 7,130,689 shares of the semiconductor company’s stock valued at $526,103,000 after acquiring an additional 666,436 shares during the last quarter. Finally, Waddell & Reed Financial Inc. lifted its position in Microchip Technology by 11.4% in the first quarter. Waddell & Reed Financial Inc. now owns 6,290,257 shares of the semiconductor company’s stock valued at $464,095,000 after acquiring an additional 641,548 shares during the last quarter.

In other news, 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 transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at $1,167,997.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 6,829 shares of company stock worth $561,905 in the last ninety days. Corporate insiders own 2.13% of the company’s stock.

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Shares of Microchip Technology Incorporated (MCHP) traded down 0.16% during mid-day trading on Wednesday, hitting $91.77. 409,771 shares of the company’s stock traded hands. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $92.33. The stock has a market cap of $21.36 billion, a P/E ratio of 47.30 and a beta of 1.07. The stock has a 50 day moving average price of $88.02 and a 200-day moving average price of $81.47.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The company had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The business’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post $5.28 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on MCHP shares. Raymond James Financial, Inc. initiated coverage on shares of Microchip Technology in a research report on Friday, June 16th. They issued an “outperform” rating and a $95.00 price target for the company. BidaskClub lowered shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. B. Riley restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective (up from $100.00) on shares of Microchip Technology in a research note on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.94.

Microchip Technology 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.

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

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