Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.55 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,184 shares of the semiconductor company’s stock after selling 2,608 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Microchip Technology were worth $6,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Pallas Capital Advisors LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $5,917,000. Consolidated Planning Corp acquired a new stake in Microchip Technology during the fourth quarter worth approximately $308,000. Quadrature Capital Ltd acquired a new stake in Microchip Technology during the third quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in Microchip Technology during the fourth quarter worth approximately $520,000. Finally, one8zero8 LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $384,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.4 %

Shares of NASDAQ:MCHP opened at $51.72 on Friday. The firm has a market cap of $27.82 billion, a P/E ratio of 92.36 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. Microchip Technology Incorporated has a 12-month low of $49.92 and a 12-month high of $100.57. The business has a fifty day simple moving average of $56.17 and a 200 day simple moving average of $64.74.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.52%. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Ratings Changes

Several research firms have weighed in on MCHP. Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Rosenblatt Securities restated a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Finally, Stifel Nicolaus cut their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

About Microchip Technology

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.