Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,118 shares of the semiconductor company’s stock after selling 21,246 shares during the quarter. New York State Teachers Retirement System’s holdings in Microchip Technology were worth $23,348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. Creative Planning grew its holdings in Microchip Technology by 0.6% in the 3rd quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after buying an additional 719 shares in the last quarter. Swedbank AB lifted its holdings in Microchip Technology by 62.3% in the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 13,392 shares during the period. nVerses Capital LLC acquired a new stake in Microchip Technology in the third quarter worth about $104,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Microchip Technology by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,900 shares of the semiconductor company’s stock worth $4,729,000 after purchasing an additional 627 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in Microchip Technology by 50.9% in the third quarter. V Square Quantitative Management LLC now owns 3,930 shares of the semiconductor company’s stock worth $316,000 after purchasing an additional 1,326 shares during the period. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCHP has been the topic of several recent analyst reports. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Citigroup dropped their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Stifel Nicolaus lowered their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Up 2.8 %

NASDAQ:MCHP opened at $55.76 on Friday. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $56.79 and its 200 day moving average price is $68.81.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 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 12.41%. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

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.