GSA Capital Partners LLP Invests $548,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

GSA Capital Partners LLP acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,831 shares of the semiconductor company’s stock, valued at approximately $548,000.

Several other institutional investors have also recently made changes to their positions in the stock. SeaCrest Wealth Management LLC raised its stake 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 buying an additional 131 shares during the period. Corundum Group Inc. lifted its holdings in Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Microchip Technology by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 148 shares in the last quarter. Busey Bank lifted its holdings in Microchip Technology by 2.6% in the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after purchasing an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in Microchip Technology by 1.5% in the 3rd 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 in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MCHP. Jefferies Financial Group lowered their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Citigroup lowered their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. B. Riley lowered their price target on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Susquehanna decreased their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $64.88 on Wednesday. The company has a market cap of $34.84 billion, a P/E ratio of 45.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The business’s 50 day moving average price is $75.24 and its 200-day moving average price is $83.67. Microchip Technology Incorporated has a fifty-two week low of $62.63 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm 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%. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Sell-side analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.81%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 127.27%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.