Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,173,337 shares of the semiconductor company's stock after selling 47,487 shares during the period. Public Employees Retirement Association of Colorado owned about 0.22% of Microchip Technology worth $67,291,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $26,000. Rakuten Securities Inc. raised its position in 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 acquiring an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in Microchip Technology during the fourth quarter worth $29,000. Financial Life Planners acquired a new position in Microchip Technology during the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology during the fourth quarter worth $34,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Down 2.3 %

NASDAQ MCHP traded down $1.09 on Tuesday, reaching $45.92. The stock had a trading volume of 8,287,173 shares, compared to its average volume of 8,238,846. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 82.00 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $100.57. The stock has a fifty day moving average price of $48.79 and a two-hundred day moving average price of $57.99.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared 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 of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.96%. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Analyst Ratings Changes

MCHP has been the subject of a number of research analyst reports. B. Riley restated a "buy" rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Truist Financial reduced their price objective on shares of Microchip Technology from $56.00 to $43.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Piper Sandler restated an "overweight" rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. UBS Group dropped their target price on shares of Microchip Technology from $70.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday. Finally, StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.79.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company's stock.

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.