Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 181.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,665 shares of the semiconductor company’s stock after purchasing an additional 119,604 shares during the period. South Dakota Investment Council’s holdings in Microchip Technology were worth $10,648,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $5,917,000. Consolidated Planning Corp purchased a new stake in Microchip Technology in the 4th quarter worth approximately $308,000. Quadrature Capital Ltd purchased a new stake in Microchip Technology in the 3rd quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology in the 4th quarter worth approximately $520,000. Finally, Benjamin Edwards Inc. grew its stake in Microchip Technology by 5,185.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 9,230 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $61.07 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company’s fifty day moving average price is $56.70 and its two-hundred day moving average price is $68.03. The firm has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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

Analyst Ratings Changes

MCHP has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Needham & Company LLC lowered their target price on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. B. Riley reaffirmed a “buy” rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Evercore ISI reissued an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.11.

About Microchip Technology

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.