Public Employees Retirement Association of Colorado Sells 47,487 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,173,337 shares of the semiconductor company’s stock after selling 47,487 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.22% of Microchip Technology worth $67,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the fourth quarter valued at about $5,917,000. Consolidated Planning Corp bought a new position in shares of Microchip Technology in the 4th quarter valued at approximately $308,000. one8zero8 LLC acquired a new position in Microchip Technology during the fourth quarter valued at approximately $384,000. Symphony Financial Ltd. Co. bought a new stake in shares of Microchip Technology during the 4th quarter worth $520,000. Finally, Truist Financial Corp boosted its holdings in shares of Microchip Technology by 5.8% during the 4th quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company’s stock worth $55,024,000 after buying an additional 52,222 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s 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 transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCHP has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Microchip Technology from $80.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC increased their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Two 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.32.

Microchip Technology Trading Down 0.5 %

Shares of NASDAQ MCHP opened at $46.89 on Friday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The company has a 50-day moving average of $49.48 and a two-hundred day moving average of $58.42. The company has a market cap of $25.22 billion, a PE ratio of 83.73 and a beta of 1.51. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, equities 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 declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

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.