Stephens Investment Management Group LLC Acquires 89,416 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Stephens Investment Management Group LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,871 shares of the semiconductor company's stock after purchasing an additional 89,416 shares during the period. Stephens Investment Management Group LLC owned approximately 0.14% of Microchip Technology worth $37,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. one8zero8 LLC bought a new position in Microchip Technology during the 4th quarter valued at about $384,000. Vanguard Group Inc. lifted its stake in Microchip Technology by 0.8% during the 4th 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 period. Franklin Resources Inc. lifted its stake in Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after acquiring an additional 3,013,162 shares during the period. Potomac Fund Management Inc. ADV bought a new position in Microchip Technology during the 4th quarter valued at about $738,000. Finally, First Citizens Bank & Trust Co. lifted its stake in Microchip Technology by 468.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock valued at $3,570,000 after acquiring an additional 60,760 shares during the period. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In other news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction 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 directly owned 3,468 shares in the company, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology 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 of the company's stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCHP. Raymond James Financial upped their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research note on Friday, May 9th. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research note on Friday, May 9th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Morgan Stanley increased their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.10.

Microchip Technology Stock Performance

NASDAQ MCHP traded down $0.52 on Friday, reaching $74.56. 4,885,920 shares of the stock were exchanged, compared to its average volume of 8,960,359. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $96.98. The firm has a market capitalization of $40.24 billion, a PE ratio of -7,456.00, a PEG ratio of 2.22 and a beta of 1.52. The company's 50-day simple moving average is $64.36 and its two-hundred day simple moving average is $56.33. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $962.86 million. During the same period last year, the firm posted $0.57 EPS. The company's revenue was down 26.8% on a year-over-year basis. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a $0.455 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.44%. Microchip Technology's dividend payout ratio is presently -18,200.00%.

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.