Crossmark Global Holdings Inc. Purchases 16,649 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Crossmark Global Holdings Inc. raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,752 shares of the semiconductor company’s stock after acquiring an additional 16,649 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Microchip Technology were worth $26,636,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Microchip Technology by 2.9% during the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after acquiring an additional 1,921,497 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Microchip Technology by 0.4% in the second quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after purchasing an additional 33,603 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares during the last quarter. Boston Partners grew its position in Microchip Technology by 10.7% in the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after acquiring an additional 736,818 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Microchip Technology by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock worth $406,182,000 after acquiring an additional 673,992 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Wednesday. Evercore ISI reiterated an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday. TD Cowen lowered their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group cut their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 2.0 %

Shares of NASDAQ:MCHP traded down $1.47 during trading hours on Friday, hitting $72.87. The company’s stock had a trading volume of 6,290,308 shares, compared to its average volume of 5,325,453. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 1.08. The firm’s fifty day moving average price is $76.73 and its 200 day moving average price is $84.98. Microchip Technology Incorporated has a 52 week low of $71.76 and a 52 week high of $100.57. The company has a market capitalization of $39.13 billion, a price-to-earnings ratio of 50.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.455 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

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.