MetLife Investment Advisors LLC Sells 1,334 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

MetLife Investment Advisors LLC reduced its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,189 shares of the semiconductor company’s stock after selling 1,334 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Microchip Technology were worth $6,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in Microchip Technology by 4.7% during the 2nd quarter. Janus Henderson Group PLC now owns 12,919,605 shares of the semiconductor company’s stock valued at $1,175,042,000 after purchasing an additional 582,965 shares during the period. Principal Financial Group Inc. increased its position in Microchip Technology by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 5,616,587 shares of the semiconductor company’s stock valued at $513,132,000 after purchasing an additional 24,008 shares during the period. Aristotle Capital Management LLC increased its position in Microchip Technology by 5.9% during the 1st quarter. Aristotle Capital Management LLC now owns 5,102,781 shares of the semiconductor company’s stock valued at $466,190,000 after purchasing an additional 285,886 shares during the period. OppenheimerFunds Inc. increased its position in Microchip Technology by 114.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,753,557 shares of the semiconductor company’s stock valued at $159,486,000 after purchasing an additional 935,884 shares during the period. Finally, Coho Partners Ltd. increased its position in Microchip Technology by 2.7% during the 2nd quarter. Coho Partners Ltd. now owns 1,543,379 shares of the semiconductor company’s stock valued at $140,370,000 after purchasing an additional 41,296 shares during the period.

A number of brokerages have issued reports on MCHP. BidaskClub downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Argus boosted their price objective on shares of Microchip Technology to $115.00 and gave the company an “average” rating in a research report on Monday, June 25th. They noted that the move was a valuation call. Nomura reduced their price objective on shares of Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 13th. Finally, TheStreet downgraded shares of Microchip Technology from an “a-” rating to a “c+” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $112.11.

In other news, COO Ganesh Moorthy purchased 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $84.10 per share, for a total transaction of $1,009,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stephen V. Drehobl sold 3,998 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the completion of the transaction, the vice president now owns 16,931 shares in the company, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

NASDAQ:MCHP opened at $67.70 on Tuesday. The stock has a market capitalization of $18.59 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 1.96. Microchip Technology Inc. has a 1-year low of $66.82 and a 1-year high of $104.20.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.13. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. On average, analysts forecast that Microchip Technology Inc. will post 6.51 EPS for the current fiscal year.

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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