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

Natixis Advisors LLC lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 33.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,454 shares of the semiconductor company’s stock after buying an additional 89,316 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Microchip Technology worth $32,890,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MCHP. Gilbert & Cook Inc. lifted its position in Microchip Technology by 8.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,354 shares of the semiconductor company’s stock valued at $483,000 after buying an additional 421 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Microchip Technology by 3,580.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,687 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 2,614 shares in the last quarter. Natixis Advisors L.P. raised its position in Microchip Technology by 11.3% in the fourth quarter. Natixis Advisors L.P. now owns 238,801 shares of the semiconductor company’s stock valued at $21,535,000 after purchasing an additional 24,200 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Microchip Technology by 9.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,391 shares of the semiconductor company’s stock worth $1,027,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of Microchip Technology by 12.2% in the fourth quarter. Merit Financial Group LLC now owns 7,960 shares of the semiconductor company’s stock worth $718,000 after buying an additional 864 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Microchip Technology news, Director Matthew W. Chapman sold 2,748 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MCHP shares. B. Riley decreased their price target on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen lowered their target price on Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Citigroup lowered their price objective on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $115.00 in a research report on Friday, May 24th. Finally, Needham & Company LLC decreased their price target on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Microchip Technology Trading Up 1.5 %

NASDAQ:MCHP opened at $82.16 on Tuesday. The firm has a market capitalization of $44.08 billion, a P/E ratio of 23.68 and a beta of 1.54. The business has a 50 day simple moving average of $85.50 and a 200 day simple moving average of $88.47. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The company’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 earnings per share. Equities research analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.454 per share. The ex-dividend date is Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.21%. Microchip Technology’s payout ratio is currently 52.16%.

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.