616,200 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Two Sigma Advisers LP

Two Sigma Advisers LP purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 616,200 shares of the semiconductor company's stock, valued at approximately $35,339,000. Two Sigma Advisers LP owned about 0.11% of Microchip Technology at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ballentine Partners LLC boosted its holdings in Microchip Technology by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 4,713 shares of the semiconductor company's stock worth $270,000 after buying an additional 437 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $17,811,000. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Microchip Technology by 134.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 593,047 shares of the semiconductor company's stock worth $34,011,000 after acquiring an additional 340,100 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Microchip Technology by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 95,634 shares of the semiconductor company's stock worth $5,485,000 after acquiring an additional 987 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Microchip Technology by 1.6% in the 4th quarter. Inspire Investing LLC now owns 52,479 shares of the semiconductor company's stock worth $3,010,000 after acquiring an additional 821 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Down 3.2%

NASDAQ MCHP traded down $1.86 on Monday, reaching $56.19. The stock had a trading volume of 10,093,410 shares, compared to its average volume of 8,600,730. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $98.99. The business has a 50 day moving average price of $48.07 and a 200 day moving average price of $55.24. The company has a market capitalization of $30.27 billion, a price-to-earnings ratio of 100.34 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 business had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The firm's quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's payout ratio is presently -18,200.00%.

Insider Activity at Microchip Technology

In other news, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the sale, the director now directly owns 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07% 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.

Analyst Ratings Changes

MCHP has been the subject of a number of recent analyst reports. Raymond James increased their price target on Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. TD Cowen raised their target price on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Mizuho lifted their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a report on Friday, May 9th. Finally, Evercore ISI raised their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Microchip Technology Company 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.