Crossmark Global Holdings Inc. Raises Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Crossmark Global Holdings Inc. lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,752 shares of the semiconductor company's stock after buying an additional 16,649 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.06% of Microchip Technology worth $26,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCHP. Pathway Financial Advisers LLC purchased a new stake in shares of Microchip Technology during the first quarter valued at approximately $39,000. Versant Capital Management Inc grew its holdings in Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 317 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock worth $49,000 after acquiring an additional 218 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Microchip Technology during the second quarter valued at about $55,000. Finally, Family Firm Inc. bought a new position in shares of Microchip Technology during the second quarter valued at about $62,000. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCHP. Mizuho set a $95.00 price target on Microchip Technology in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on Microchip Technology from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Citigroup cut their price target on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday. Susquehanna decreased their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday. Finally, Bank of America cut shares of Microchip Technology from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $110.00 to $90.00 in a research report on Friday, August 2nd. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Microchip Technology Stock Down 2.0 %

Shares of NASDAQ MCHP traded down $1.47 during midday trading on Friday, hitting $72.87. The stock had a trading volume of 6,290,308 shares, compared to its average volume of 5,325,453. The business's 50 day moving average is $76.73 and its 200-day moving average is $84.97. Microchip Technology Incorporated has a 52 week low of $71.76 and a 52 week high of $100.57. The company has a quick ratio of 1.08, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market cap of $39.13 billion, a P/E ratio of 50.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm's quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. As a group, analysts predict that Microchip Technology Incorporated will post 1.73 EPS 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 issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.50%. 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 dividend payout ratio (DPR) is presently 127.27%.

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.