Quantinno Capital Management LP Has $4.08 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Quantinno Capital Management LP lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 31.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,792 shares of the semiconductor company’s stock after selling 23,136 shares during the period. Quantinno Capital Management LP’s holdings in Microchip Technology were worth $4,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCHP. Prospera Private Wealth LLC acquired a new stake in Microchip Technology during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology during the third quarter valued at $34,000. Wolff Wiese Magana LLC boosted its position in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Microchip Technology in the second quarter worth about $55,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. KeyCorp reduced their price target on Microchip Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, December 3rd. TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Wednesday, November 6th. Mizuho set a $95.00 price target on Microchip Technology in a research report on Friday, October 18th. Finally, Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

Microchip Technology Trading Up 1.8 %

Shares of MCHP opened at $59.29 on Monday. Microchip Technology Incorporated has a 12-month low of $57.96 and a 12-month high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $31.84 billion, a price-to-earnings ratio of 41.46 and a beta of 1.50. The stock’s 50-day moving average price is $72.17 and its 200 day moving average price is $81.08.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The company’s quarterly revenue was down 48.4% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 1.33 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio is currently 127.27%.

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.