California Public Employees Retirement System Increases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

California Public Employees Retirement System increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,706,403 shares of the semiconductor company’s stock after purchasing an additional 419,912 shares during the period. California Public Employees Retirement System owned 0.69% of Microchip Technology worth $212,562,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management bought a new position in Microchip Technology in the 4th quarter valued at $29,000. Financial Life Planners bought a new position in Microchip Technology in the 4th quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $34,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 4.1 %

Shares of NASDAQ MCHP opened at $48.70 on Monday. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average is $55.65 and its 200 day moving average is $63.80. Microchip Technology Incorporated has a 52 week low of $48.27 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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%. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current 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 paid a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.74%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. KeyCorp cut their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, Mizuho raised their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.37.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

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.