Public Sector Pension Investment Board Has $49.07 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Public Sector Pension Investment Board increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 611,121 shares of the semiconductor company’s stock after acquiring an additional 2,600 shares during the quarter. Public Sector Pension Investment Board owned about 0.11% of Microchip Technology worth $49,067,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter valued at $34,000. Pathway Financial Advisers LLC bought a new stake in Microchip Technology during the first quarter valued at $39,000. Finally, Versant Capital Management Inc grew its holdings in Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 317 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $67.87 on Thursday. Microchip Technology Incorporated has a 52 week low of $62.63 and a 52 week high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $74.10 and a 200-day moving average price of $82.69. The company has a market cap of $36.45 billion, a PE ratio of 47.46 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.455 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Cowen dropped their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. KeyCorp dropped their price target on Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Susquehanna cut their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. B. Riley lowered their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Jefferies Financial Group cut their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.00.

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.