Strs Ohio Has $16.53 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Strs Ohio lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,267 shares of the semiconductor company's stock after selling 29,628 shares during the quarter. Strs Ohio's holdings in Microchip Technology were worth $16,527,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Microchip Technology by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company's stock worth $221,586,000 after acquiring an additional 11,163 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Microchip Technology during the 4th quarter valued at approximately $6,827,000. Crestwood Advisors Group LLC acquired a new position in Microchip Technology during the 4th quarter valued at approximately $416,000. Simplicity Solutions LLC increased its stake in Microchip Technology by 2.2% during the 4th quarter. Simplicity Solutions LLC now owns 17,136 shares of the semiconductor company's stock valued at $1,545,000 after purchasing an additional 368 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its stake in Microchip Technology by 4.5% during the 4th quarter. Perigon Wealth Management LLC now owns 5,879 shares of the semiconductor company's stock valued at $530,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Down 1.0 %

MCHP traded down $0.86 during mid-day trading on Wednesday, hitting $85.07. 4,820,388 shares of the stock were exchanged, compared to its average volume of 5,533,114. The firm's fifty day moving average is $86.55 and its two-hundred day moving average is $84.24. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $45.97 billion, a PE ratio of 20.05, a PEG ratio of 2.62 and a beta of 1.65.

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

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology's previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. Microchip Technology's dividend payout ratio is 42.06%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Microchip Technology from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. UBS Group dropped their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, February 2nd. TD Cowen upped their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the company a "market perform" rating in a report on Friday, February 2nd. Wolfe Research raised shares of Microchip Technology from a "peer perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a report on Thursday, January 18th. Finally, Evercore ISI initiated coverage on shares of Microchip Technology in a report on Tuesday. They issued an "outperform" rating and a $106.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average price target of $92.25.

Insider Activity at Microchip Technology

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