Microchip Technology Incorporated (NASDAQ:MCHP) Position Boosted by South Dakota Investment Council

South Dakota Investment Council lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 181.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 185,665 shares of the semiconductor company’s stock after buying an additional 119,604 shares during the quarter. South Dakota Investment Council’s holdings in Microchip Technology were worth $10,648,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of Microchip Technology during the third quarter worth about $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology in the third quarter worth about $34,000. Truvestments Capital LLC bought a new position in Microchip Technology in the third quarter worth about $34,000. Financial Life Planners bought a new position in Microchip Technology in the fourth quarter worth about $32,000. Finally, Hobbs Group Advisors LLC lifted its holdings in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 5.0 %

Shares of NASDAQ:MCHP opened at $61.07 on Friday. The stock has a market capitalization of $32.84 billion, a price-to-earnings ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year 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. The company has a 50 day moving average price of $56.70 and a 200 day moving average price of $68.03.

Microchip Technology (NASDAQ:MCHP) last issued its 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 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analyst Ratings Changes

A number of brokerages have 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. Piper Sandler reissued an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Citigroup cut their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

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.