Natixis Advisors LLC Has $43.34 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Key Points

• Natixis Advisors LLC increased its stake in Microchip Technology by 48.9%, acquiring an additional 293,913 shares, bringing their total ownership to 895,300 shares valued at approximately $43.34 million.
• Microchip Technology announced a quarterly dividend of $0.455 per share, with a 2.7% dividend yield and a significant negative dividend payout ratio of -18,200.00%.
• The semiconductor company reported earnings of $0.11 per share for the last quarter, beating analyst expectations, although its revenue decreased by 26.8% compared to the previous year.

Natixis Advisors LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 48.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 895,300 shares of the semiconductor company's stock after purchasing an additional 293,913 shares during the quarter. Natixis Advisors LLC owned about 0.17% of Microchip Technology worth $43,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in shares of Microchip Technology during the 1st quarter worth $30,000. Orion Capital Management LLC purchased a new position in shares of Microchip Technology during the 4th quarter worth $41,000. Byrne Asset Management LLC purchased a new position in shares of Microchip Technology during the 1st quarter worth $41,000. GW&K Investment Management LLC boosted its holdings in Microchip Technology by 161.0% during the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after acquiring an additional 578 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Microchip Technology by 399.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 809 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 647 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCHP shares. Cantor Fitzgerald started coverage on Microchip Technology in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research note on Friday, May 9th. UBS Group lifted their price target on Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Raymond James Financial lifted their price target on Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a research report on Friday, May 9th. Finally, TD Cowen upped their price target on Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.42.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the completion of the sale, the chief financial officer directly owned 34,313 shares of the company's stock, valued at $1,913,979.14. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director directly owned 3,468 shares of the company's stock, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Stock Up 0.0%

NASDAQ MCHP traded up $0.00 on Tuesday, reaching $66.59. The stock had a trading volume of 4,139,241 shares, compared to its average volume of 10,457,561. The business has a 50 day moving average price of $69.05 and a 200 day moving average price of $57.90. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $82.87. The company has a market capitalization of $35.94 billion, a price-to-earnings ratio of -6,651.30, a P/E/G ratio of 1.92 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The company's revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, analysts forecast 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 Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

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.