Alpha DNA Investment Management LLC Acquires Shares of 12,697 Microchip Technology Incorporated (NASDAQ:MCHP)

Alpha DNA Investment Management LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,697 shares of the semiconductor company’s stock, valued at approximately $1,019,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Microchip Technology by 2,390.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock valued at $209,653,000 after buying an additional 2,199,290 shares during the period. Van ECK Associates Corp lifted its position in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after acquiring an additional 1,597,263 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Microchip Technology by 78.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock valued at $200,329,000 after acquiring an additional 961,801 shares during the period. Boston Partners grew its holdings in shares of Microchip Technology by 10.7% during the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after purchasing an additional 736,818 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Microchip Technology by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock worth $406,182,000 after purchasing an additional 673,992 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.0 %

NASDAQ:MCHP opened at $66.69 on Friday. Microchip Technology Incorporated has a one year low of $62.63 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. The company has a market cap of $35.81 billion, a PE ratio of 46.64 and a beta of 1.53. The firm’s 50 day simple moving average is $74.59 and its 200 day simple moving average is $83.17.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.455 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.73%. Microchip Technology’s dividend payout ratio is presently 127.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. B. Riley reduced their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. KeyCorp reduced their price target on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Wednesday, November 6th. Needham & Company LLC cut their target price on Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Mizuho set a $95.00 target price on Microchip Technology in a report on Friday, October 18th. One equities research 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. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.