Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.55 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,184 shares of the semiconductor company’s stock after selling 2,608 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Microchip Technology were worth $6,548,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $26,000. Rakuten Securities Inc. grew its stake in shares of Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the period. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at about $29,000. OFI Invest Asset Management acquired a new position in Microchip Technology in the fourth quarter valued at about $29,000. Finally, Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter valued at about $32,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’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 sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $51.72 on Friday. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The firm has a market capitalization of $27.82 billion, a PE ratio of 92.36 and a beta of 1.52. 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 business’s 50-day simple moving average is $56.17 and its 200 day simple moving average is $64.74.

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 the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.52%. Microchip Technology’s dividend payout ratio is 325.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. B. Riley reissued a “buy” rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley decreased their target price on 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. Finally, Mizuho boosted their target price on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology 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.