Brooklyn Investment Group Has $264,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Brooklyn Investment Group raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,284 shares of the semiconductor company’s stock after buying an additional 641 shares during the period. Brooklyn Investment Group’s holdings in Microchip Technology were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Microchip Technology in the 3rd quarter worth about $5,581,000. Private Trust Co. NA grew its stake in shares of Microchip Technology by 5.4% in the third quarter. Private Trust Co. NA now owns 8,585 shares of the semiconductor company’s stock worth $689,000 after purchasing an additional 439 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Microchip Technology in the third quarter valued at $34,000. Brown Brothers Harriman & Co. raised its position in Microchip Technology by 56.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 19,654 shares of the semiconductor company’s stock worth $1,578,000 after purchasing an additional 7,127 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Microchip Technology by 65.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 83,098 shares of the semiconductor company’s stock worth $6,672,000 after buying an additional 32,967 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 2.1 %

MCHP stock opened at $68.41 on Wednesday. The firm has a market capitalization of $36.74 billion, a PE ratio of 47.84 and a beta of 1.53. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a twelve month low of $62.63 and a twelve month high of $100.57. The stock’s 50 day moving average is $74.27 and its 200-day moving average is $82.80.

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

Microchip Technology Increases Dividend

The firm also recently announced 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 represents a $1.82 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is presently 127.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. KeyCorp lowered their price objective on Microchip Technology from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. B. Riley decreased their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group dropped their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price 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.