Great Lakes Retirement Inc. Has $1.37 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

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

Several other institutional investors also recently modified their holdings of MCHP. Procyon Advisors LLC raised its position in shares of Microchip Technology by 1.8% during the 3rd quarter. Procyon Advisors LLC now owns 15,547 shares of the semiconductor company’s stock valued at $1,248,000 after acquiring an additional 278 shares during the last quarter. CX Institutional increased its holdings in Microchip Technology by 6.4% in the third quarter. CX Institutional now owns 12,902 shares of the semiconductor company’s stock valued at $1,036,000 after purchasing an additional 776 shares during the last quarter. Creative Planning lifted its stake in Microchip Technology by 0.6% in the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock valued at $9,358,000 after buying an additional 719 shares during the period. Iams Wealth Management LLC boosted its holdings in Microchip Technology by 16.7% during the third quarter. Iams Wealth Management LLC now owns 18,856 shares of the semiconductor company’s stock worth $1,514,000 after buying an additional 2,693 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its position in shares of Microchip Technology by 18.6% during the 3rd quarter. Boomfish Wealth Group LLC now owns 28,552 shares of the semiconductor company’s stock worth $2,292,000 after buying an additional 4,472 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Susquehanna cut their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Jefferies Financial Group lowered their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC cut their price objective on Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Up 1.0 %

MCHP stock opened at $52.58 on Wednesday. The company has a market cap of $28.24 billion, a price-to-earnings ratio of 93.89 and a beta of 1.50. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The business has a 50 day moving average price of $57.35 and a two-hundred day moving average price of $69.49. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. Analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. 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 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.