Microchip Technology Incorporated (MCHP) Holdings Maintained by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky maintained its stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,671 shares of the semiconductor company’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Microchip Technology were worth $1,904,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Smithfield Trust Co. boosted its holdings in Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Keel Point LLC increased its position in Microchip Technology by 0.3% during the 1st quarter. Keel Point LLC now owns 3,575 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 11 shares during the period. Nicolet Bankshares Inc. increased its position in Microchip Technology by 0.3% during the 2nd quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 11 shares during the period. Mission Wealth Management LLC increased its position in Microchip Technology by 0.7% during the 1st quarter. Mission Wealth Management LLC now owns 3,616 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 26 shares during the period. Finally, Commonwealth Bank of Australia increased its position in Microchip Technology by 1.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 29 shares during the period. Institutional investors own 98.68% of the company’s stock.
MCHP has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, September 8th. BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. Mizuho reiterated a “neutral” rating and set a $80.00 price objective (up from $75.00) on shares of Microchip Technology in a research report on Wednesday, June 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $94.00 price objective on shares of Microchip Technology in a research report on Wednesday, September 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $89.44.
Microchip Technology Incorporated (MCHP) opened at 90.72 on Wednesday. The firm has a market capitalization of $21.11 billion, a P/E ratio of 48.88 and a beta of 1.07. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $91.83. The company’s 50-day moving average price is $86.74 and its 200-day moving average price is $80.81.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.17. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The business had revenue of $972.10 million during the quarter, compared to analyst estimates of $944.87 million. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. Equities research analysts expect that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a dividend of $0.362 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.45 annualized dividend and a dividend yield of 1.60%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 77.54%.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wade F. Meyercord sold 1,300 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock worth $561,905 in the last quarter. 2.13% of the stock is owned by corporate insiders.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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