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

Quantinno Capital Management LP decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 31.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,792 shares of the semiconductor company’s stock after selling 23,136 shares during the quarter. Quantinno Capital Management LP’s holdings in Microchip Technology were worth $4,078,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MCHP. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC bought a new position in Microchip Technology during the 3rd quarter worth about $34,000. Wolff Wiese Magana LLC increased its holdings in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in shares of Microchip Technology during the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $59.29 on Monday. The company’s 50 day simple moving average is $72.17 and its 200 day simple moving average is $81.08. The stock has a market capitalization of $31.84 billion, a price-to-earnings ratio of 41.46 and a beta of 1.50. 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 Incorporated has a 1 year low of $57.96 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, research analysts predict that Microchip Technology Incorporated will post 1.33 EPS for the current fiscal 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 paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.07%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Stifel Nicolaus cut their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.