Penserra Capital Management LLC Purchases 76,066 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Penserra Capital Management LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 39.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,374 shares of the semiconductor company's stock after purchasing an additional 76,066 shares during the quarter. Penserra Capital Management LLC's holdings in Microchip Technology were worth $12,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after purchasing an additional 569,699 shares in the last quarter. Invesco Ltd. boosted its position in shares of Microchip Technology by 9.5% in the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock worth $587,718,000 after purchasing an additional 890,819 shares in the last quarter. Norges Bank bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $452,627,000. FIL Ltd lifted its position in Microchip Technology by 9.0% in the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock valued at $451,774,000 after acquiring an additional 653,705 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Microchip Technology by 4.7% in the 4th quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock valued at $399,070,000 after acquiring an additional 311,796 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer directly owned 34,313 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the sale, the director directly owned 3,468 shares in the company, valued at $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. 2.10% of the stock is owned by company insiders.

Microchip Technology Price Performance

NASDAQ:MCHP traded up $0.22 on Wednesday, reaching $74.78. 3,315,667 shares of the company's stock traded hands, compared to its average volume of 8,910,878. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $62.67 and a 200-day simple moving average of $55.99. The firm has a market cap of $40.33 billion, a PE ratio of -7,468.50, a P/E/G ratio of 2.13 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $96.98.

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 analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million for 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 business's quarterly revenue was down 26.8% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.43%. Microchip Technology's dividend payout ratio is presently -18,200.00%.

Analyst Upgrades and Downgrades

MCHP has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group upped their price objective on Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday. Rosenblatt Securities upped their price objective on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Citigroup increased their price target on Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a report on Monday. Finally, TD Cowen increased their price target on Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus target price of $73.85.

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.