Great Lakes Retirement Inc. Sells 672 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Great Lakes Retirement Inc. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.7% in the 4th quarter, HoldingsChannel reports. The firm owned 23,843 shares of the semiconductor company’s stock after selling 672 shares during the period. Great Lakes Retirement Inc.’s holdings in Microchip Technology were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter worth about $29,000. Financial Life Planners bought a new position in Microchip Technology in the 4th quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology during the third quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the third quarter worth approximately $34,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. B. Riley reissued a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley reduced their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Finally, Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Up 1.0 %

Shares of NASDAQ MCHP opened at $52.58 on Wednesday. The firm has a market cap of $28.24 billion, a PE ratio of 93.89 and a beta of 1.50. The company has a 50 day simple moving average of $57.35 and a 200 day simple moving average of $69.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released 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 net margin of 6.49% and a return on equity of 12.41%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.46%. Microchip Technology’s dividend payout ratio is presently 325.00%.

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.