Oregon Public Employees Retirement Fund Buys 38,011 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

Oregon Public Employees Retirement Fund raised its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 153.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,804 shares of the semiconductor company’s stock after buying an additional 38,011 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Microchip Technology were worth $5,445,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Osborn Williams & Donohoe LLC purchased a new stake in shares of Microchip Technology in the 1st quarter valued at $31,000. Parkside Financial Bank & Trust boosted its stake in shares of Microchip Technology by 65.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 171 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in shares of Microchip Technology by 186.5% in the 1st quarter. Gemmer Asset Management LLC now owns 487 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 317 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Microchip Technology in the 1st quarter valued at $43,000. Finally, Shine Investment Advisory Services Inc. boosted its stake in shares of Microchip Technology by 110.2% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 578 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 303 shares in the last quarter.

Microchip Technology stock opened at $96.99 on Wednesday. The company has a market capitalization of $23.35 billion, a PE ratio of 15.95, a P/E/G ratio of 1.32 and a beta of 1.42. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.63 and a current ratio of 0.93. Microchip Technology Inc. has a 1 year low of $60.70 and a 1 year high of $101.35. The firm’s 50 day moving average is $89.59.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. Sell-side analysts expect that Microchip Technology Inc. will post 5.56 earnings per share for the current fiscal year.

Several research analysts recently issued reports on the stock. Wells Fargo & Co increased their price target on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday. Rosenblatt Securities assumed coverage on shares of FOX in a research note on Monday, May 6th. They issued a “sell” rating and a $33.00 price target for the company. Mizuho increased their price target on shares of Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Longbow Research assumed coverage on shares of Microchip Technology in a research note on Tuesday, July 9th. They issued a “neutral” rating and a $87.93 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $103.89.

In related news, VP James Eric Bjornholt sold 2,188 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.21% of the company’s stock.

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; 32-bit microprocessors; 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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