Quantinno Capital Management LP Has $4.08 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Quantinno Capital Management LP decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 31.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,792 shares of the semiconductor company's stock after selling 23,136 shares during the quarter. Quantinno Capital Management LP's holdings in Microchip Technology were worth $4,078,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Aspire Private Capital LLC increased its stake in shares of Microchip Technology by 12.9% in the second quarter. Aspire Private Capital LLC now owns 1,886 shares of the semiconductor company's stock valued at $173,000 after buying an additional 215 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Microchip Technology by 13.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 26,379 shares of the semiconductor company's stock worth $2,414,000 after acquiring an additional 3,185 shares during the last quarter. Wedmont Private Capital increased its position in Microchip Technology by 24.8% in the 2nd quarter. Wedmont Private Capital now owns 5,935 shares of the semiconductor company's stock valued at $550,000 after acquiring an additional 1,178 shares in the last quarter. FCG Investment Co raised its stake in shares of Microchip Technology by 37.6% in the second quarter. FCG Investment Co now owns 17,557 shares of the semiconductor company's stock worth $1,606,000 after acquiring an additional 4,793 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Microchip Technology by 9.8% during the second quarter. V Square Quantitative Management LLC now owns 2,604 shares of the semiconductor company's stock worth $238,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Up 4.4 %

Shares of Microchip Technology stock traded up $2.58 during trading hours on Monday, reaching $61.87. 8,574,025 shares of the company's stock were exchanged, compared to its average volume of 8,139,041. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $72.17 and a two-hundred day moving average of $81.08. The stock has a market cap of $33.22 billion, a P/E ratio of 41.46 and a beta of 1.50. Microchip Technology Incorporated has a fifty-two week low of $57.96 and a fifty-two week high of $100.57.

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 for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the firm posted $1.54 EPS. The firm's revenue for the quarter was down 48.4% compared to the same quarter last year. On average, sell-side analysts forecast 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 was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, November 22nd. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's dividend payout ratio (DPR) is 127.27%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Truist Financial downgraded Microchip Technology from a "buy" rating to a "hold" rating and dropped their target price for the stock from $89.00 to $80.00 in a research report on Monday, September 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Susquehanna cut their price target on shares of Microchip Technology from $95.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, November 6th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

Microchip Technology Company 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.