Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,266,402 shares of the semiconductor company's stock after purchasing an additional 122,633 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of Microchip Technology worth $158,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coign Capital Advisors LLC raised its stake in Microchip Technology by 4.4% in the first quarter. Coign Capital Advisors LLC now owns 9,687 shares of the semiconductor company's stock worth $469,000 after buying an additional 407 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Microchip Technology during the first quarter worth $1,662,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Microchip Technology during the 1st quarter valued at $119,000. Strategy Asset Managers LLC boosted its position in shares of Microchip Technology by 1.2% in the 1st quarter. Strategy Asset Managers LLC now owns 82,736 shares of the semiconductor company's stock worth $4,005,000 after purchasing an additional 964 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Microchip Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock worth $3,354,940,000 after buying an additional 390,269 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCHP. Rosenblatt Securities increased their price target on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Mizuho upped their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Cantor Fitzgerald initiated coverage on Microchip Technology in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective for the company. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group initiated coverage on Microchip Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective for the company. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.58.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director owned 3,468 shares of the company's stock, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the completion of the transaction, the chief financial officer owned 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Price Performance

NASDAQ:MCHP traded up $3.55 during trading hours on Tuesday, hitting $64.50. 12,673,559 shares of the stock were exchanged, compared to its average volume of 9,757,185. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The firm's fifty day moving average price is $69.68 and its 200 day moving average price is $58.16. The company has a market cap of $34.81 billion, a P/E ratio of -189.71, a P/E/G ratio of 1.79 and a beta of 1.55. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $82.87.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

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.