Barrow Hanley Mewhinney & Strauss LLC Invests $537.42 Million in Microchip Technology Incorporated $MCHP

Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,892,794 shares of the semiconductor company's stock, valued at approximately $537,423,000. Microchip Technology accounts for about 1.6% of Barrow Hanley Mewhinney & Strauss LLC's holdings, making the stock its 17th biggest holding. Barrow Hanley Mewhinney & Strauss LLC owned about 1.09% of Microchip Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company's stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares during the period. State Street Corp lifted its stake in shares of Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company's stock valued at $1,839,153,000 after purchasing an additional 783,157 shares during the period. Boston Partners lifted its stake in shares of Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company's stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares during the period. Geode Capital Management LLC boosted its holdings in Microchip Technology by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company's stock worth $977,638,000 after buying an additional 213,188 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Microchip Technology by 4.8% during the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company's stock worth $955,298,000 after buying an additional 684,561 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 3,000 shares of the business's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares of the company's stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 837 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares in the company, valued at $2,484,849.60. This represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,837 shares of company stock valued at $847,338. Corporate insiders own 1.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Microchip Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. Wells Fargo & Company lowered their price target on Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating on the stock in a report on Monday, July 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $125.00 price objective on shares of Microchip Technology in a research note on Monday, August 17th. Finally, Citigroup reduced their price objective on Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.67.

Microchip Technology Stock Performance

Shares of MCHP opened at $76.08 on Monday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market cap of $41.31 billion, a P/E ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $84.29 and a two-hundred day moving average of $81.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The company's quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, research analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology's dividend payout ratio (DPR) is presently 271.64%.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip's products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.

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