Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 273.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,345,096 shares of the semiconductor company’s stock after acquiring an additional 3,912,895 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.00% of Microchip Technology worth $306,541,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MCHP. Mainstream Capital Management LLC acquired a new position in Microchip Technology in the fourth quarter worth $26,000. Rakuten Securities Inc. lifted its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MCHP. Morgan Stanley raised their target price on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Citigroup boosted their price objective on Microchip Technology from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Mizuho increased their target price on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their target price on Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five 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 MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average target price of $67.42.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karlton D. Johnson sold 494 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, the director now owns 3,468 shares in the company, valued at $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 2.0%

Microchip Technology stock opened at $58.05 on Friday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 103.66 and a beta of 1.42. The company’s 50-day moving average price is $48.03 and its two-hundred day moving average price is $55.63. 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, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The business had revenue of $970.50 million during the quarter, compared to analysts’ expectations of $962.86 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was down 26.8% on a year-over-year basis. On average, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology’s dividend payout ratio is presently -18,200.00%.

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.