Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 35.8% during the third quarter, Holdings Channel reports. The fund owned 488,263 shares of the semiconductor company’s stock after purchasing an additional 128,809 shares during the quarter. Natixis Advisors LLC’s holdings in Microchip Technology were worth $39,203,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pinnacle Associates Ltd. boosted its stake in shares of Microchip Technology by 50.0% during the third quarter. Pinnacle Associates Ltd. now owns 105,694 shares of the semiconductor company’s stock valued at $8,486,000 after acquiring an additional 35,213 shares during the last quarter. Swedbank AB acquired a new stake in Microchip Technology in the 1st quarter worth about $1,079,000. Aigen Investment Management LP acquired a new stake in Microchip Technology in the 3rd quarter worth about $2,391,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Microchip Technology by 12.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 870,072 shares of the semiconductor company’s stock worth $69,355,000 after buying an additional 93,464 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in Microchip Technology by 35.1% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 65,023 shares of the semiconductor company’s stock worth $5,221,000 after buying an additional 16,906 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI reissued an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC decreased their price target on Microchip Technology from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler decreased their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Finally, Susquehanna cut their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $62.86 on Monday. The company has a market cap of $33.76 billion, a P/E ratio of 43.96 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a one year low of $62.63 and a one year high of $100.57. The business’s 50-day simple moving average is $75.65 and its 200 day simple moving average is $84.03.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.54 EPS. The company’s revenue was down 48.4% on a year-over-year basis. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.90%. Microchip Technology’s payout ratio is currently 127.27%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.