State of New Jersey Common Pension Fund D Sells 1,331 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

State of New Jersey Common Pension Fund D lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,331 shares of the semiconductor company’s stock after selling 1,331 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Microchip Technology worth $16,065,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC grew its holdings in Microchip Technology by 1.5% during the 3rd quarter. Archford Capital Strategies LLC now owns 6,246 shares of the semiconductor company’s stock valued at $642,000 after purchasing an additional 91 shares during the last quarter. IFP Advisors Inc grew its holdings in Microchip Technology by 4.2% during the 2nd quarter. IFP Advisors Inc now owns 2,652 shares of the semiconductor company’s stock valued at $271,000 after purchasing an additional 106 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Microchip Technology by 16.2% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 768 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 107 shares during the last quarter. Naples Global Advisors LLC grew its holdings in Microchip Technology by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 31,520 shares of the semiconductor company’s stock valued at $3,319,000 after purchasing an additional 125 shares during the last quarter. Finally, CAPROCK Group Inc. grew its holdings in Microchip Technology by 3.4% during the 2nd quarter. CAPROCK Group Inc. now owns 3,970 shares of the semiconductor company’s stock valued at $418,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.

NASDAQ MCHP opened at $106.35 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.83 and a debt-to-equity ratio of 1.41. The firm has a market cap of $26.85 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. The company has a 50 day moving average price of $105.97 and a 200 day moving average price of $100.04. Microchip Technology Incorporated has a 52 week low of $53.15 and a 52 week high of $116.56.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. Microchip Technology had a net margin of 12.23% and a return on equity of 24.31%. Microchip Technology’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 5.38 earnings per share for the current fiscal year.

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,893 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $108.39, for a total transaction of $313,572.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard J. Simoncic sold 3,802 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $108.39, for a total transaction of $412,098.78. Following the transaction, the vice president now owns 19,530 shares in the company, valued at approximately $2,116,856.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,695 shares of company stock valued at $836,561. 2.15% of the stock is currently owned by company insiders.

Several equities analysts recently commented on MCHP shares. Raymond James reiterated a “buy” rating on shares of Microchip Technology in a report on Friday, September 18th. Zacks Investment Research cut shares of Microchip Technology from a “buy” rating to a “hold” rating and set a $104.00 price objective for the company. in a research report on Thursday, August 6th. KeyCorp boosted their price objective on shares of Microchip Technology from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. BidaskClub cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Cowen lowered their price objective on shares of Microchip Technology from $110.00 to $102.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $116.68.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive, industrial, computing, communication, lighting, power supplies, motor control, human machine interface, security, and wired and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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