GSA Capital Partners LLP Buys New Position in Microchip Technology Incorporated (NASDAQ:MCHP)

GSA Capital Partners LLP bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,831 shares of the semiconductor company’s stock, valued at approximately $548,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in shares of Microchip Technology during the first quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 317 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Microchip Technology in the second quarter worth $55,000. Finally, Family Firm Inc. bought a new position in Microchip Technology in the second quarter worth $62,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. B. Riley decreased their price objective on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Mizuho set a $95.00 price objective on Microchip Technology in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Microchip Technology Trading Down 0.6 %

Microchip Technology stock opened at $64.88 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a one year low of $62.63 and a one year high of $100.57. The stock has a market capitalization of $34.84 billion, a PE ratio of 45.37 and a beta of 1.53. The business’s fifty day moving average is $75.24 and its 200 day moving average is $83.67.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating 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 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 firm posted $1.54 earnings per share. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.81%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

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.