2,719 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,719 shares of the semiconductor company’s stock, valued at approximately $218,000.

A number of other institutional investors have also made changes to their positions in MCHP. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Microchip Technology by 2,390.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock worth $209,653,000 after purchasing an additional 2,199,290 shares during the period. Van ECK Associates Corp grew its stake in shares of Microchip Technology by 25.1% during the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after purchasing an additional 1,597,263 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Microchip Technology by 78.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock worth $200,329,000 after purchasing an additional 961,801 shares during the period. Boston Partners grew its stake in shares of Microchip Technology by 10.7% during the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after purchasing an additional 736,818 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Microchip Technology by 234.1% during the second quarter. National Bank of Canada FI now owns 899,561 shares of the semiconductor company’s stock worth $82,391,000 after purchasing an additional 630,285 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

MCHP opened at $69.85 on Tuesday. Microchip Technology Incorporated has a 52-week low of $62.63 and a 52-week high of $100.57. The firm has a market capitalization of $37.51 billion, a PE ratio of 48.85 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The business’s 50-day simple moving average is $74.44 and its 200 day simple moving average is $82.96.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Microchip Technology’s revenue was down 48.4% on a year-over-year basis. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.455 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 2.61%. Microchip Technology’s dividend payout ratio is currently 127.27%.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of research analyst reports. Evercore ISI reissued an “outperform” rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. 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. Jefferies Financial Group decreased their target price on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, B. Riley decreased their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Microchip Technology 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.