Teacher Retirement System of Texas Acquires 28,054 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Teacher Retirement System of Texas increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 781.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,646 shares of the semiconductor company's stock after buying an additional 28,054 shares during the quarter. Teacher Retirement System of Texas' holdings in Microchip Technology were worth $1,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased 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 buying an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in Microchip Technology in the 4th quarter valued at $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter valued at $32,000. Finally, Truvestments Capital LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth about $34,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Down 2.1 %

MCHP stock traded down $1.03 during mid-day trading on Monday, reaching $47.68. The company had a trading volume of 808,656 shares, compared to its average volume of 7,330,394. Microchip Technology Incorporated has a 52 week low of $47.43 and a 52 week high of $100.57. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 85.13 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a 50 day simple moving average of $55.65 and a two-hundred day simple moving average of $63.80.

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Microchip Technology (NASDAQ:MCHP - Get Free Report) 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 12.62%. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio is 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade 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 at this hyperlink. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MCHP shares. Stifel Nicolaus dropped their price target on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. KeyCorp decreased their target price on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. B. Riley reiterated a "buy" rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.