Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,223,508 shares of the semiconductor company’s stock after buying an additional 357,282 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.23% of Microchip Technology worth $111,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCHP. Gilbert & Cook Inc. grew its position in shares of Microchip Technology by 8.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,354 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 421 shares during the period. D.A. Davidson & CO. grew its position in shares of Microchip Technology by 82.6% in the fourth quarter. D.A. Davidson & CO. now owns 11,284 shares of the semiconductor company’s stock valued at $1,018,000 after purchasing an additional 5,103 shares during the period. Assetmark Inc. grew its position in shares of Microchip Technology by 7.3% in the fourth quarter. Assetmark Inc. now owns 46,155 shares of the semiconductor company’s stock valued at $4,162,000 after purchasing an additional 3,135 shares during the period. WBI Investments LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth about $1,106,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Microchip Technology by 5.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 41,269 shares of the semiconductor company’s stock worth $3,722,000 after buying an additional 2,107 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCHP shares. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. Susquehanna decreased their price target on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen reduced their target price on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.95.

Microchip Technology Trading Up 3.2 %

Shares of MCHP stock opened at $78.83 on Friday. 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 stock has a market capitalization of $42.29 billion, a P/E ratio of 22.72 and a beta of 1.53. The company has a 50 day moving average price of $81.46 and a 200 day moving average price of $87.80. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 earnings per share. Equities research analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.454 per share. This represents a $1.82 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, August 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 52.16%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.07% of the stock is currently owned by company insiders.

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.