Quadrature Capital Ltd Buys Shares of 41,250 Microchip Technology Incorporated (NASDAQ:MCHP)

Quadrature Capital Ltd acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,250 shares of the semiconductor company's stock, valued at approximately $3,312,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Microchip Technology during the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC grew its holdings in shares of Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of Microchip Technology during the second quarter valued at approximately $55,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $90.00 target price on shares of Microchip Technology in a report on Wednesday, November 6th. Susquehanna reduced their price objective on Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, November 6th. Mizuho set a $95.00 price objective on Microchip Technology in a research report on Friday, October 18th. Evercore ISI reiterated an "outperform" rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, Truist Financial downgraded Microchip Technology from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $89.00 to $80.00 in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Microchip Technology Price Performance

MCHP traded up $1.04 during trading on Friday, reaching $59.29. The stock had a trading volume of 8,676,903 shares, compared to its average volume of 6,177,079. Microchip Technology Incorporated has a 1-year low of $57.96 and a 1-year high of $100.57. The stock has a 50 day moving average of $72.60 and a two-hundred day moving average of $81.57. The firm has a market capitalization of $31.84 billion, a price-to-earnings ratio of 41.46 and a beta of 1.50. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company's quarterly revenue was down 48.4% compared to the same quarter last year. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's dividend payout ratio is 127.27%.

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.