6,112 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the third quarter, HoldingsChannel.com reports. The fund purchased 6,112 shares of the semiconductor company’s stock, valued at approximately $491,000.

Other hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC increased its holdings in shares of Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 131 shares during the last quarter. Corundum Group Inc. raised its holdings in shares of Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after acquiring an additional 143 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Microchip Technology by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 148 shares during the last quarter. Busey Bank grew its holdings in shares of Microchip Technology by 2.6% in the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after purchasing an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $59.93 on Monday. The company has a market capitalization of $32.18 billion, a P/E ratio of 41.91 and a beta of 1.50. The company’s 50-day simple moving average is $70.49 and its two-hundred day simple moving average is $79.80. Microchip Technology Incorporated has a one year low of $57.96 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s payout ratio is presently 127.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Susquehanna dropped their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, November 6th. KeyCorp reduced their price objective on Microchip Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 3rd. Mizuho set a $95.00 price objective on Microchip Technology in a research note on Friday, October 18th. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler lowered their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.95.

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.