Tower Research Capital LLC TRC Sells 6,231 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

Tower Research Capital LLC TRC trimmed its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 65.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,231 shares of the semiconductor company’s stock after selling 6,231 shares during the period. Tower Research Capital LLC TRC’s holdings in Microchip Technology were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC lifted its position in shares of Microchip Technology by 1.4% during the second quarter. Advisor Partners LLC now owns 8,055 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 115 shares in the last quarter. Nicolet Bankshares Inc. lifted its position in shares of Microchip Technology by 1.9% during the second quarter. Nicolet Bankshares Inc. now owns 6,304 shares of the semiconductor company’s stock valued at $547,000 after purchasing an additional 120 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its position in shares of Microchip Technology by 0.4% during the second 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 in the last quarter. Parallel Advisors LLC lifted its position in shares of Microchip Technology by 9.1% during the second 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 in the last quarter. Finally, CWM Advisors LLC lifted its position in shares of Microchip Technology by 1.8% during the second quarter. CWM Advisors LLC now owns 7,634 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 134 shares in the last quarter.

MCHP has been the topic of a number of recent analyst reports. Wells Fargo & Co raised their price target on shares of Microchip Technology from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Cfra set a $100.00 price objective on shares of Microchip Technology and gave the stock a “hold” rating in a research report on Saturday, September 7th. Piper Jaffray Companies set a $110.00 price objective on shares of Microchip Technology and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Needham & Company LLC set a $100.00 price objective on shares of Microchip Technology and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $100.88.

In related news, VP Richard J. Simoncic sold 3,437 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total transaction of $304,518.20. Following the completion of the transaction, the vice president now owns 18,178 shares of the company’s stock, valued at $1,610,570.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,937 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total transaction of $171,618.20. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

MCHP stock traded down $2.04 during mid-day trading on Friday, hitting $90.45. The company had a trading volume of 1,740,828 shares, compared to its average volume of 2,321,359. The firm has a market cap of $22.27 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.43 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. The stock’s fifty day moving average price is $88.85 and its two-hundred day moving average price is $88.90. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $101.35.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.366 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.62%. Microchip Technology’s dividend payout ratio (DPR) is presently 24.01%.

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.

See Also: Why is the ex-dividend date different from the record date?

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

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