Louisiana State Employees Retirement System Acquires New Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Louisiana State Employees Retirement System acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 75,700 shares of the semiconductor company's stock, valued at approximately $6,827,000.

Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its position in shares of Microchip Technology by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company's stock worth $849,000 after buying an additional 119 shares in the last quarter. Aspire Private Capital LLC grew its stake in Microchip Technology by 3.2% in the fourth quarter. Aspire Private Capital LLC now owns 3,904 shares of the semiconductor company's stock worth $274,266,959,000 after purchasing an additional 120 shares in the last quarter. RFG Advisory LLC boosted its position in Microchip Technology by 3.2% during the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company's stock valued at $353,000 after acquiring an additional 123 shares in the last quarter. Twelve Points Wealth Management LLC lifted its holdings in shares of Microchip Technology by 1.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company's stock valued at $1,103,000 after purchasing an additional 125 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company's stock valued at $554,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Down 4.1 %

Shares of NASDAQ:MCHP traded down $3.64 during trading on Friday, hitting $85.64. The company's stock had a trading volume of 5,434,549 shares, compared to its average volume of 4,550,729. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The business has a 50 day moving average price of $86.49 and a two-hundred day moving average price of $84.13. The company has a market capitalization of $46.28 billion, a PE ratio of 20.01, a P/E/G ratio of 2.61 and a beta of 1.65. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company's revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 earnings per share. As a group, research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Microchip Technology's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology's dividend payout ratio is presently 42.06%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MCHP. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. UBS Group dropped their target price on Microchip Technology from $105.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus restated a "buy" rating and set a $94.00 target price on shares of Microchip Technology in a research report on Thursday, March 14th. Needham & Company LLC lifted their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Finally, Susquehanna reiterated a "positive" rating and issued a $100.00 price objective on shares of Microchip Technology in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $91.33.

Insider Activity

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO James Eric Bjornholt sold 1,970 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company's stock.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.