Natixis Advisors LLC Grows Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Natixis Advisors LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 601,387 shares of the semiconductor company’s stock after buying an additional 113,124 shares during the period. Natixis Advisors LLC owned approximately 0.11% of Microchip Technology worth $34,490,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MCHP. Mainstream Capital Management LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth about $26,000. Rakuten Securities Inc. increased its holdings in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at about $29,000. OFI Invest Asset Management purchased a new position in Microchip Technology during the 4th quarter valued at about $29,000. Finally, Financial Life Planners purchased a new position in Microchip Technology during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Raymond James restated a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lifted their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. KeyCorp cut their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $53.50 on Monday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The firm has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52. The company has a 50 day moving average of $56.51 and a 200 day moving average of $65.58. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.40%. Microchip Technology’s payout ratio is currently 325.00%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

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.