Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 63.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,086 shares of the semiconductor company's stock after acquiring an additional 22,847 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Microchip Technology were worth $2,860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. one8zero8 LLC acquired a new position in Microchip Technology during the 4th quarter worth approximately $384,000. Vanguard Group Inc. lifted its position in Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock valued at $3,952,123,000 after acquiring an additional 569,699 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Microchip Technology by 90.0% in the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after purchasing an additional 3,013,162 shares during the period. Jones Financial Companies Lllp grew its position in shares of Microchip Technology by 15.7% during the fourth quarter. Jones Financial Companies Lllp now owns 16,418 shares of the semiconductor company's stock worth $942,000 after acquiring an additional 2,226 shares during the last quarter. Finally, Potomac Fund Management Inc. ADV purchased a new position in Microchip Technology during the 4th quarter worth $738,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MCHP shares. B. Riley lifted their target price on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Rosenblatt Securities lifted their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. TD Cowen boosted their price objective on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Citigroup raised their target price on shares of Microchip Technology from $55.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Evercore ISI lifted their target price on shares of Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.15.

Insider Activity

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director directly owned 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer owned 34,313 shares in the company, valued at $1,913,979.14. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Microchip Technology Price Performance

NASDAQ MCHP traded up $1.31 during trading hours on Tuesday, reaching $71.68. The company's stock had a trading volume of 8,032,427 shares, compared to its average volume of 10,915,329. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.59. The stock has a market cap of $38.66 billion, a PE ratio of -7,168.00, a PEG ratio of 2.10 and a beta of 1.48. The company's 50-day moving average is $59.35 and its two-hundred day moving average is $55.33. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The business had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. During the same period in the prior year, the business earned $0.57 earnings per share. The company's quarterly revenue was down 26.8% on a year-over-year basis. Analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.54%. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

About Microchip Technology

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.