Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Natixis Advisors L.P.

Natixis Advisors L.P. grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 11.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 238,801 shares of the semiconductor company’s stock after purchasing an additional 24,200 shares during the quarter. Natixis Advisors L.P.’s holdings in Microchip Technology were worth $21,535,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MCHP. Mizuho Markets Americas LLC acquired a new stake in shares of Microchip Technology during the third quarter worth $225,800,000. Truist Financial Corp lifted its holdings in Microchip Technology by 324.0% in the fourth quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock worth $163,678,000 after acquiring an additional 1,386,924 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Microchip Technology by 122.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock worth $119,353,000 after acquiring an additional 840,526 shares during the last quarter. Van ECK Associates Corp boosted its stake in Microchip Technology by 16.0% in the fourth quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock valued at $466,863,000 after acquiring an additional 714,376 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Microchip Technology by 173.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after purchasing an additional 673,924 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent research reports. Susquehanna restated a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. TD Cowen lifted their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, January 18th. Finally, Evercore ISI assumed coverage on Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.75.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP opened at $91.36 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The firm’s 50 day moving average is $88.05 and its 200-day moving average is $85.13. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.63. The stock has a market capitalization of $49.37 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.79 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. Equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.