V Square Quantitative Management LLC Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

V Square Quantitative Management LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 50.9% in the third quarter, Holdings Channel reports. The institutional investor owned 3,930 shares of the semiconductor company’s stock after purchasing an additional 1,326 shares during the period. V Square Quantitative Management LLC’s holdings in Microchip Technology were worth $316,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its position in shares of Microchip Technology by 3,353.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,521 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 2,448 shares in the last quarter. RFG Advisory LLC grew its position in shares of Microchip Technology by 228.4% in the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock valued at $1,152,000 after purchasing an additional 8,931 shares during the period. Steph & Co. increased its stake in shares of Microchip Technology by 57.4% during the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 151 shares in the last quarter. CGN Advisors LLC raised its position in shares of Microchip Technology by 10.0% during the 1st quarter. CGN Advisors LLC now owns 28,565 shares of the semiconductor company’s stock worth $2,563,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in Microchip Technology by 80.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 23,194 shares of the semiconductor company’s stock valued at $2,081,000 after buying an additional 10,358 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the subject of several research reports. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday. Susquehanna decreased their price objective on Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. Mizuho set a $95.00 target price on shares of Microchip Technology in a report on Friday. Truist Financial downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $89.00 to $80.00 in a research note on Monday, September 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Insider Activity at Microchip Technology

In related 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 transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Up 1.0 %

Shares of NASDAQ:MCHP opened at $77.34 on Monday. The business has a 50-day moving average price of $78.29 and a 200 day moving average price of $86.14. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $41.49 billion, a price-to-earnings ratio of 22.29 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business’s revenue was down 45.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.454 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

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.