Barrow Hanley Mewhinney & Strauss LLC Has $306.54 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 273.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,345,096 shares of the semiconductor company’s stock after purchasing an additional 3,912,895 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Microchip Technology were worth $306,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Microchip Technology during the 4th quarter worth approximately $34,000. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of several analyst reports. Evercore ISI increased their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. TD Cowen lifted their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. KeyCorp decreased their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Finally, Mizuho boosted their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Stock Down 4.1 %

NASDAQ:MCHP opened at $48.70 on Friday. Microchip Technology Incorporated has a twelve month low of $48.27 and a twelve month high of $100.57. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $55.65 and its two-hundred day moving average price is $63.90.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.74%. Microchip Technology’s dividend payout ratio is 325.00%.

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.