New York State Teachers Retirement System Sells 21,246 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

New York State Teachers Retirement System reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure 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 period. New York State Teachers Retirement System owned 0.08% of Microchip Technology worth $23,348,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCHP. Van ECK Associates Corp lifted its position in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Microchip Technology by 20.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock valued at $220,957,000 after purchasing an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new position in shares of Microchip Technology during the third quarter valued at about $27,744,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Microchip Technology stock traded up $5.73 during midday trading on Wednesday, reaching $63.59. 20,796,246 shares of the stock were exchanged, compared to its average volume of 9,384,921. The company's fifty day moving average is $56.58 and its 200-day moving average is $68.22. 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 firm has a market cap of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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 return on equity of 12.62% and a net margin of 6.49%. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. B. Riley reissued a "buy" rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Needham & Company LLC dropped their target price on shares of Microchip Technology from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Evercore ISI reiterated an "outperform" rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Bank of America cut shares of Microchip Technology from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

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.