British Airways Pensions Investment Management Ltd continued to hold its position in Microchip Technology Inc. (NASDAQ:MCHP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 715,210 shares of the company’s stock at the end of the second quarter. British Airways Pensions Investment Management Ltd owned about 0.33% of Microchip Technology worth $36,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Creative Planning raised its position in Microchip Technology by 92.4% in the second quarter. Creative Planning now owns 3,079 shares of the company’s stock worth $156,000 after buying an additional 1,479 shares during the period. IFP Advisors Inc raised its position in shares of Microchip Technology by 67.8% in the first quarter. IFP Advisors Inc now owns 3,422 shares of the company’s stock valued at $165,000 after buying an additional 1,383 shares during the last quarter. Cape ANN Savings Bank bought a new position in shares of Microchip Technology during the second quarter valued at $207,000. Atria Investments LLC bought a new position in shares of Microchip Technology during the second quarter valued at $227,000. Finally, FDO Partners LLC raised its position in shares of Microchip Technology by 15.8% in the first quarter. FDO Partners LLC now owns 5,443 shares of the company’s stock valued at $262,000 after buying an additional 743 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) traded up 1.53% during mid-day trading on Wednesday, reaching $61.12. 1,424,394 shares of the company’s stock traded hands. Microchip Technology Inc. has a 1-year low of $39.01 and a 1-year high of $63.11. The company has a market capitalization of $13.16 billion, a P/E ratio of 164.74 and a beta of 1.08. The firm has a 50-day moving average price of $60.35 and a 200-day moving average price of $52.84.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, August 8th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Microchip Technology had a return on equity of 24.87% and a net margin of 3.28%. The firm earned $799.40 million during the quarter, compared to analyst estimates of $821.41 million. During the same period in the previous year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. On average, equities research analysts forecast that Microchip Technology Inc. will post $3.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, August 18th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.36%. Microchip Technology’s payout ratio is 400.00%.

Several research analysts have recently weighed in on MCHP shares. Needham & Company LLC increased their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Citigroup Inc. increased their price objective on shares of Microchip Technology from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Microchip Technology currently has a consensus rating of “Buy” and a consensus price target of $59.34.

In other news, VP Richard J. Simoncic sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $60.47, for a total transaction of $1,209,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 4,454 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $60.95, for a total value of $271,471.30. Following the transaction, the vice president now owns 13,622 shares of the company’s stock, valued at $830,260.90. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

About Microchip Technology

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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