Versor Investments LP Buys New Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Versor Investments LP purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,412 shares of the semiconductor company's stock, valued at approximately $368,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology during the third quarter worth $34,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the fourth quarter worth $32,000. Finally, Hobbs Group Advisors LLC raised its stake in Microchip Technology by 390.6% during the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company's stock worth $50,000 after buying an additional 500 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Needham & Company LLC decreased their price target on Microchip Technology from $85.00 to $60.00 and set a "buy" rating for the company in a report on Friday, February 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Thursday, February 6th. Evercore ISI reiterated an "outperform" rating and issued a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $77.11.

Microchip Technology Trading Down 1.5 %

Shares of NASDAQ MCHP traded down $0.91 during midday trading on Monday, hitting $57.95. 19,505,898 shares of the company traded hands, compared to its average volume of 10,014,030. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The firm has a market cap of $31.17 billion, a P/E ratio of 103.48 and a beta of 1.50. The stock has a 50-day moving average price of $56.94 and a 200 day moving average price of $67.36. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, February 24th. Microchip Technology's payout ratio is currently 325.00%.

About Microchip Technology

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.