MainStreet Investment Advisors LLC Cuts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)


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MainStreet Investment Advisors LLC cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,735 shares of the semiconductor company’s stock after selling 5,520 shares during the quarter. Microchip Technology comprises about 1.0% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest position. MainStreet Investment Advisors LLC’s holdings in Microchip Technology were worth $12,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its position in shares of Microchip Technology by 7.2% during the fourth quarter. California Public Employees Retirement System now owns 598,685 shares of the semiconductor company’s stock worth $82,684,000 after acquiring an additional 40,233 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Microchip Technology by 19.2% during the fourth quarter. IFM Investors Pty Ltd now owns 23,779 shares of the semiconductor company’s stock worth $3,284,000 after acquiring an additional 3,834 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Microchip Technology by 3.8% during the third quarter. IHT Wealth Management LLC now owns 2,314 shares of the semiconductor company’s stock worth $238,000 after acquiring an additional 85 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Microchip Technology by 5.3% during the third quarter. California State Teachers Retirement System now owns 443,968 shares of the semiconductor company’s stock worth $45,622,000 after acquiring an additional 22,379 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $241,000. 94.10% of the stock is currently owned by institutional investors.

MCHP stock traded down $3.74 during midday trading on Tuesday, reaching $151.45. The company had a trading volume of 24,949 shares, compared to its average volume of 2,239,196. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average price of $149.28 and a 200 day moving average price of $125.35. Microchip Technology Incorporated has a fifty-two week low of $53.15 and a fifty-two week high of $166.67. The firm has a market capitalization of $40.78 billion, a PE ratio of 66.32, a P/E/G ratio of 1.74 and a beta of 1.69.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 4th. The semiconductor company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.17. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. Research analysts predict that Microchip Technology Incorporated will post 5.79 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 8th. Stockholders of record on Monday, February 22nd will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 19th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 1.03%. Microchip Technology’s payout ratio is currently 28.38%.

A number of analysts have recently issued reports on MCHP shares. Zacks Investment Research lowered Microchip Technology from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research report on Thursday, November 12th. Smith Barney Citigroup lowered Microchip Technology from a “buy” rating to a “neutral” rating in a report on Friday, November 6th. Cowen boosted their price objective on Microchip Technology from $102.00 to $125.00 and gave the company a “market perform” rating in a report on Friday, November 6th. Needham & Company LLC boosted their price objective on Microchip Technology from $130.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Microchip Technology from $135.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 5th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $144.12.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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