Versor Investments LP Boosts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Versor Investments LP raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,300 shares of the semiconductor company’s stock after acquiring an additional 700 shares during the period. Versor Investments LP’s holdings in Microchip Technology were worth $695,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Microchip Technology by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,497,628 shares of the semiconductor company’s stock worth $806,561,000 after buying an additional 229,775 shares during the last quarter. Boston Partners increased its holdings in shares of Microchip Technology by 3.5% during the 4th quarter. Boston Partners now owns 7,935,488 shares of the semiconductor company’s stock worth $559,863,000 after buying an additional 269,862 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Microchip Technology by 1.7% during the 1st quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock worth $567,576,000 after buying an additional 123,806 shares during the last quarter. Norges Bank acquired a new stake in shares of Microchip Technology during the 4th quarter worth $412,120,000. Finally, Franklin Resources Inc. increased its holdings in shares of Microchip Technology by 3.2% during the 4th quarter. Franklin Resources Inc. now owns 4,029,472 shares of the semiconductor company’s stock worth $283,070,000 after buying an additional 126,788 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Microchip Technology from $97.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday. Susquehanna decreased their price target on shares of Microchip Technology from $105.00 to $100.00 and set a “positive” rating for the company in a research report on Friday. Truist Financial upped their price target on shares of Microchip Technology from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Citigroup upped their price target on shares of Microchip Technology from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $125.00 price target on shares of Microchip Technology in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.76.

Microchip Technology Stock Down 6.8 %

NASDAQ:MCHP opened at $83.46 on Friday. The company has a market capitalization of $45.43 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.60. Microchip Technology Incorporated has a one year low of $54.77 and a one year high of $94.30. The stock has a 50-day simple moving average of $86.11 and a 200 day simple moving average of $81.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $1.64 EPS for the quarter, meeting analysts’ consensus estimates of $1.64. Microchip Technology had a return on equity of 52.58% and a net margin of 27.35%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. Microchip Technology’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts predict that Microchip Technology Incorporated will post 5.97 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be paid a $0.41 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, August 21st. Microchip Technology’s payout ratio is presently 35.42%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,470 shares of Microchip Technology stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $78.32, for a total value of $193,450.40. Following the completion of the transaction, the chief financial officer now directly owns 32,004 shares in the company, valued at $2,506,553.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.07% of the stock is currently owned by insiders.

Microchip Technology Profile

(Free Report)

Microchip Technology Incorporated develops, manufactures, and sells 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 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.