Public Employees Retirement Association of Colorado Sells 47,487 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Public Employees Retirement Association of Colorado decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the 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 approximately 0.22% of Microchip Technology worth $67,291,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MCHP. Virtu Financial LLC acquired a new position in shares of Microchip Technology during the third quarter worth $491,000. Stock Yards Bank & Trust Co. increased its holdings in Microchip Technology by 3.3% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,517 shares of the semiconductor company's stock worth $925,000 after purchasing an additional 368 shares in the last quarter. World Investment Advisors LLC increased its holdings in Microchip Technology by 11.7% in the 3rd quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company's stock worth $3,443,000 after purchasing an additional 4,477 shares in the last quarter. Arvest Bank Trust Division bought a new position in Microchip Technology in the third quarter valued at about $223,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Microchip Technology by 16.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company's stock valued at $4,849,000 after purchasing an additional 8,592 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Truist Financial cut their price target on shares of Microchip Technology from $56.00 to $43.00 and set a "hold" rating on the stock in a report on Monday, April 21st. StockNews.com downgraded Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.79.

Microchip Technology Stock Down 0.2 %

MCHP traded down $0.10 during midday trading on Thursday, hitting $45.98. The company had a trading volume of 8,674,956 shares, compared to its average volume of 8,259,791. The stock's 50 day moving average price is $48.49 and its 200 day moving average price is $57.91. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 82.11 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 (NASDAQ:MCHP - Get Free Report) last posted its quarterly 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, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Monday, February 24th. Microchip Technology's payout ratio is presently 325.00%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.