Teacher Retirement System of Texas Has $1.82 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Teacher Retirement System of Texas boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 781.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,646 shares of the semiconductor company’s stock after purchasing an additional 28,054 shares during the period. Teacher Retirement System of Texas’ holdings in Microchip Technology were worth $1,815,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. United Bank grew its stake in shares of Microchip Technology by 21.0% in the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock valued at $793,000 after purchasing an additional 1,712 shares during the period. Swedbank AB boosted its stake in Microchip Technology by 62.3% in the 3rd quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock valued at $2,801,000 after buying an additional 13,392 shares in the last quarter. Larson Financial Group LLC boosted its stake in Microchip Technology by 55.9% in the 3rd quarter. Larson Financial Group LLC now owns 2,938 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,053 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Microchip Technology by 65.8% during the third quarter. Loomis Sayles & Co. L P now owns 83,098 shares of the semiconductor company’s stock worth $6,672,000 after acquiring an additional 32,967 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in Microchip Technology during the third quarter worth $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MCHP shares. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Needham & Company LLC upped their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report 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’s stock. According to data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Down 2.6 %

Shares of NASDAQ:MCHP opened at $50.79 on Friday. The company has a 50 day moving average price of $55.83 and a two-hundred day moving average price of $64.16. The company has a market capitalization of $27.32 billion, a PE ratio of 90.70 and a beta of 1.52. Microchip Technology Incorporated has a 52 week low of $49.92 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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%. Analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.