Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 68,912,345 shares of the semiconductor company’s stock after purchasing an additional 569,699 shares during the period. Vanguard Group Inc. owned about 12.83% of Microchip Technology worth $3,952,123,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank increased its stake in Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after buying an additional 1,712 shares during the period. Quest Partners LLC increased its position in shares of Microchip Technology by 463,300.0% during the third quarter. Quest Partners LLC now owns 4,634 shares of the semiconductor company’s stock worth $372,000 after acquiring an additional 4,633 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Microchip Technology in the third quarter valued at $218,000. Cerity Partners LLC boosted its holdings in Microchip Technology by 14.2% in the third quarter. Cerity Partners LLC now owns 260,063 shares of the semiconductor company’s stock valued at $20,880,000 after purchasing an additional 32,340 shares during the period. Finally, Swedbank AB grew its stake in Microchip Technology by 62.3% during the 3rd quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 13,392 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCHP. Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. The Goldman Sachs Group reduced their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Stock Performance

Shares of MCHP opened at $53.89 on Tuesday. The company’s 50 day simple moving average is $56.13 and its 200-day simple moving average is $64.49. Microchip Technology Incorporated has a 12-month low of $49.92 and a 12-month high of $100.57. The firm has a market cap of $28.98 billion, a PE ratio of 96.23 and a beta of 1.52. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.38%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

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.