Kentucky Retirement Systems Insurance Trust Fund Has $403,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 55.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,025 shares of the semiconductor company’s stock after selling 8,860 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Microchip Technology were worth $403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter valued at about $32,000. Finally, Hobbs Group Advisors LLC raised its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCHP. Morgan Stanley dropped their price target 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 reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Thursday, February 6th. KeyCorp decreased their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $63.59 on Thursday. The stock has a market capitalization of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. The business’s 50 day simple moving average is $56.58 and its 200 day simple moving average is $68.22. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 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, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

Microchip Technology Company 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.