Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Natixis Advisors L.P.

Natixis Advisors L.P. grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,801 shares of the semiconductor company’s stock after acquiring an additional 24,200 shares during the period. Natixis Advisors L.P.’s holdings in Microchip Technology were worth $21,535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCHP. Mechanics Financial Corp grew its position in Microchip Technology by 12.4% during the 4th quarter. Mechanics Financial Corp now owns 5,350 shares of the semiconductor company’s stock worth $482,000 after purchasing an additional 590 shares during the period. Fisher Asset Management LLC raised its position in Microchip Technology by 3,580.8% during the fourth quarter. Fisher Asset Management LLC now owns 2,687 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 2,614 shares in the last quarter. FFT Wealth Management LLC raised its position in Microchip Technology by 4.4% during the fourth quarter. FFT Wealth Management LLC now owns 3,730 shares of the semiconductor company’s stock valued at $336,000 after acquiring an additional 158 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Microchip Technology by 7.3% in the fourth quarter. First Trust Direct Indexing L.P. now owns 11,377 shares of the semiconductor company’s stock valued at $1,026,000 after acquiring an additional 771 shares during the period. Finally, Summit Financial LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $227,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 2.1 %

NASDAQ MCHP opened at $91.36 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.63. The business’s fifty day simple moving average is $88.05 and its 200-day simple moving average is $85.13. The firm has a market cap of $49.37 billion, a PE ratio of 21.35, a P/E/G ratio of 2.79 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. Microchip Technology’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 earnings per share. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Insider Activity

In related news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group cut their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Truist Financial cut their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, January 9th. Susquehanna restated a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Finally, Needham & Company LLC lifted their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.75.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.