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

Natixis Advisors LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 35.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 488,263 shares of the semiconductor company's stock after buying an additional 128,809 shares during the period. Natixis Advisors LLC owned about 0.09% of Microchip Technology worth $39,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in Microchip Technology during the first quarter worth about $871,000. O Shaughnessy Asset Management LLC raised its stake in shares of Microchip Technology by 8.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 75,094 shares of the semiconductor company's stock valued at $6,737,000 after acquiring an additional 5,722 shares during the period. Clearbridge Investments LLC increased its stake in Microchip Technology by 18,944.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,973,045 shares of the semiconductor company's stock worth $177,002,000 after buying an additional 1,962,685 shares during the period. UniSuper Management Pty Ltd increased its stake in Microchip Technology by 23.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 80,325 shares of the semiconductor company's stock worth $7,206,000 after buying an additional 15,353 shares during the period. Finally, Bessemer Group Inc. increased its stake in Microchip Technology by 15.2% during the 1st quarter. Bessemer Group Inc. now owns 42,430 shares of the semiconductor company's stock worth $3,806,000 after buying an additional 5,597 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MCHP shares. TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Mizuho set a $95.00 target price on shares of Microchip Technology in a report on Friday, October 18th. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Susquehanna decreased their price target on shares of Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI reiterated an "outperform" rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Microchip Technology Price Performance

NASDAQ:MCHP traded up $2.39 during mid-day trading on Monday, hitting $65.25. 7,997,857 shares of the company's stock traded hands, compared to its average volume of 6,016,987. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm's 50 day simple moving average is $75.65 and its 200 day simple moving average is $84.03. Microchip Technology Incorporated has a 1 year low of $62.63 and a 1 year high of $100.57. The company has a market cap of $35.04 billion, a PE ratio of 43.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the company earned $1.54 EPS. The firm's revenue for the quarter was down 48.4% compared to the same quarter last year. Sell-side analysts expect that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.455 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.79%. Microchip Technology's dividend payout ratio (DPR) is currently 127.27%.

Insider Buying and Selling

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 shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares of the company's stock, valued at $2,710,445.50. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

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.