Louisiana State Employees Retirement System Lowers Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Louisiana State Employees Retirement System reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,100 shares of the semiconductor company’s stock after selling 3,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Microchip Technology were worth $3,906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the fourth quarter valued at approximately $5,917,000. Quadrature Capital Ltd bought a new position in shares of Microchip Technology in the third quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. bought a new position in shares of Microchip Technology in the fourth quarter worth approximately $520,000. Benjamin Edwards Inc. grew its holdings in shares of Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 9,230 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after purchasing an additional 19,663 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $53.85 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $28.96 billion, a P/E ratio of 96.16 and a beta of 1.50. The business has a fifty day simple moving average of $57.09 and a two-hundred day simple moving average of $69.25. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MCHP. Mizuho cut their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday. B. Riley restated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Needham & Company LLC dropped their price target on Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.11.

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.