TIAA Trust National Association Has $634,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

TIAA Trust National Association raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,055 shares of the semiconductor company’s stock after buying an additional 810 shares during the quarter. TIAA Trust National Association’s holdings in Microchip Technology were worth $634,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology in the third quarter worth $34,000. Mainstream Capital Management LLC acquired a new position in Microchip Technology during the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its holdings in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management acquired a new stake in Microchip Technology in the 4th quarter worth $29,000. Finally, Financial Life Planners bought a new position in shares of Microchip Technology during the 4th quarter worth about $32,000. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI boosted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Finally, KeyCorp lowered their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by insiders.

Microchip Technology Trading Down 2.6 %

MCHP stock opened at $50.79 on Friday. The business has a fifty day moving average price of $55.83 and a 200 day moving average price of $64.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a fifty-two week low of $49.92 and a fifty-two week high of $100.57. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of 90.70 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its 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 net margin of 6.49% and a return on equity of 12.62%. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.58%. Microchip Technology’s payout ratio 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.