Vanguard Group Inc. Acquires 569,699 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Vanguard Group Inc. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,912,345 shares of the semiconductor company's stock after purchasing an additional 569,699 shares during the quarter. Vanguard Group Inc. owned about 12.83% of Microchip Technology worth $3,952,123,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Coldstream Capital Management Inc. increased its stake in Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company's stock valued at $878,000 after buying an additional 260 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Microchip Technology by 1.8% during the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock valued at $1,182,000 after acquiring an additional 264 shares during the period. Lebenthal Global Advisors LLC raised its holdings in Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock worth $223,000 after purchasing an additional 266 shares in the last quarter. First Commonwealth Financial Corp PA lifted its position in Microchip Technology by 2.5% in the third quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company's stock worth $911,000 after purchasing an additional 279 shares during the period. Finally, Elmwood Wealth Management Inc. boosted its stake in Microchip Technology by 1.5% during the 4th quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock valued at $1,179,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MCHP. The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note 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 research report on Tuesday, March 4th. Mizuho raised their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Stifel Nicolaus dropped their target price on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $74.37.

Microchip Technology Stock Down 4.1 %

Microchip Technology stock traded down $2.09 during mid-day trading on Friday, hitting $48.70. The company's stock had a trading volume of 12,054,423 shares, compared to its average volume of 7,355,377. Microchip Technology Incorporated has a 52-week low of $48.27 and a 52-week high of $100.57. The company has a market cap of $26.19 billion, a PE ratio of 86.96 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm's 50 day moving average is $55.65 and its 200 day moving average is $63.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, 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 document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.

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.