Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,361 shares of the semiconductor company’s stock after buying an additional 730 shares during the period. GAMMA Investing LLC’s holdings in Microchip Technology were worth $671,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MCHP. Ossiam raised its stake in shares of Microchip Technology by 13.3% during the 4th quarter. Ossiam now owns 9,359 shares of the semiconductor company’s stock worth $844,000 after buying an additional 1,100 shares in the last quarter. Vista Investment Management raised its stake in shares of Microchip Technology by 2.0% during the 4th quarter. Vista Investment Management now owns 25,315 shares of the semiconductor company’s stock worth $2,283,000 after buying an additional 501 shares in the last quarter. BOKF NA raised its stake in shares of Microchip Technology by 14.4% during the 4th quarter. BOKF NA now owns 84,819 shares of the semiconductor company’s stock worth $7,649,000 after buying an additional 10,678 shares in the last quarter. Ethic Inc. raised its stake in shares of Microchip Technology by 28.2% during the 4th quarter. Ethic Inc. now owns 66,655 shares of the semiconductor company’s stock worth $6,011,000 after buying an additional 14,666 shares in the last quarter. Finally, Caxton Associates LP raised its stake in shares of Microchip Technology by 4,511.5% during the 4th quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after buying an additional 391,326 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’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 sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.07% of the stock is owned by company insiders.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $77.31 on Wednesday. The company has a market cap of $41.48 billion, a P/E ratio of 22.32 and a beta of 1.52. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The business has a fifty day simple moving average of $78.57 and a 200-day simple moving average of $86.85.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial downgraded Microchip Technology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $89.00 to $80.00 in a research note on Monday, September 23rd. Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $100.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. Finally, Needham & Company LLC dropped their price objective on Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.47.

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.