Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 781.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,646 shares of the semiconductor company’s stock after acquiring an additional 28,054 shares during the period. Teacher Retirement System of Texas’ holdings in Microchip Technology were worth $1,815,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. United Bank raised its holdings in Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after buying an additional 1,712 shares during the period. Swedbank AB raised its holdings in shares of Microchip Technology by 62.3% during the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock valued at $2,801,000 after acquiring an additional 13,392 shares during the period. Larson Financial Group LLC boosted its stake in Microchip Technology by 55.9% in the 3rd quarter. Larson Financial Group LLC now owns 2,938 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,053 shares during the period. Loomis Sayles & Co. L P grew its position in Microchip Technology by 65.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 83,098 shares of the semiconductor company’s stock worth $6,672,000 after purchasing an additional 32,967 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Microchip Technology during the 3rd quarter valued at $34,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Trading Down 2.6 %

Shares of NASDAQ:MCHP opened at $50.79 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock’s 50-day moving average is $55.83 and its 200-day moving average is $64.16. The company has a market cap of $27.32 billion, a P/E ratio of 90.70 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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 predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCHP. KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. B. Riley reiterated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Morgan Stanley lowered their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

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.