First Affirmative Financial Network Purchases Shares of 4,468 Microchip Technology Incorporated (NASDAQ:MCHP)

First Affirmative Financial Network bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,468 shares of the semiconductor company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Microchip Technology by 2.9% in 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 during the period. Principal Financial Group Inc. lifted its position in shares of Microchip Technology by 0.4% during the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after buying an additional 33,603 shares in the last quarter. Boston Partners grew its stake in Microchip Technology by 10.7% in the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after acquiring an additional 736,818 shares during the period. Van ECK Associates Corp increased its holdings in Microchip Technology by 4.9% in the 2nd quarter. Van ECK Associates Corp now owns 6,363,937 shares of the semiconductor company’s stock worth $582,301,000 after acquiring an additional 295,626 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position 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 period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 0.8 %

Shares of Microchip Technology stock opened at $77.98 on Friday. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 31.19 and a beta of 1.52. The stock has a 50 day moving average of $78.09 and a 200 day moving average of $86.59.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business posted $1.56 EPS. The company’s revenue was down 45.8% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 1.73 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.454 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is presently 72.80%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the company’s 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 transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of several research analyst reports. Bank of America downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $110.00 to $90.00 in a research report on Friday, August 2nd. TD Cowen reduced their target price on Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Citigroup lowered their price target on Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $102.00 to $100.00 in a research note on Thursday, July 11th. Finally, StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.47.

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.