Microchip Technology (MCHP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Microchip Technology (NASDAQ:MCHP) by 1.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 346,062 shares of the semiconductor company’s stock after selling 3,473 shares during the period. New York State Teachers Retirement System owned approximately 0.15% of Microchip Technology worth $31,616,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Aristotle Capital Management LLC raised its holdings in Microchip Technology by 5.6% during the 4th quarter. Aristotle Capital Management LLC now owns 4,816,895 shares of the semiconductor company’s stock worth $423,309,000 after buying an additional 257,166 shares during the period. First Trust Advisors LP raised its holdings in Microchip Technology by 18.9% during the 4th quarter. First Trust Advisors LP now owns 1,296,121 shares of the semiconductor company’s stock worth $113,903,000 after buying an additional 205,658 shares during the period. Guggenheim Capital LLC raised its holdings in Microchip Technology by 0.9% during the 4th quarter. Guggenheim Capital LLC now owns 959,000 shares of the semiconductor company’s stock worth $84,276,000 after buying an additional 8,292 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in Microchip Technology by 0.7% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 950,333 shares of the semiconductor company’s stock worth $83,515,000 after buying an additional 6,873 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in Microchip Technology by 5.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 949,892 shares of the semiconductor company’s stock worth $83,477,000 after buying an additional 51,312 shares during the period.

In related news, CFO James Eric Bjornholt sold 2,109 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total value of $177,535.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Esther Johnson sold 2,275 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total transaction of $222,722.50. Following the completion of the transaction, the director now directly owns 6,081 shares of the company’s stock, valued at $595,329.90. The disclosure for this sale can be found here. Insiders sold 33,667 shares of company stock valued at $3,132,552 over the last three months. 2.13% of the stock is owned by company insiders.

NASDAQ MCHP opened at $88.74 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.33 and a current ratio of 2.98. Microchip Technology has a 12-month low of $74.86 and a 12-month high of $101.48. The company has a market capitalization of $20.51 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The business had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. analysts predict that Microchip Technology will post 5.13 EPS for the current fiscal year.

Several analysts have commented on MCHP shares. ValuEngine downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Bank of America dropped their target price on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Finally, KeyCorp upgraded shares of Microchip Technology from a “sector weight” rating to an “overweight” rating in a report on Friday, March 2nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $103.99.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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

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