Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Trimmed by Tredje AP fonden

Tredje AP fonden lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 73.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,230 shares of the semiconductor company’s stock after selling 258,484 shares during the quarter. Tredje AP fonden’s holdings in Microchip Technology were worth $5,404,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MCHP. Mainstream Capital Management LLC bought a new position in Microchip Technology during the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its stake in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 359 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Microchip Technology during the third quarter valued at about $29,000. OFI Invest Asset Management bought a new position in Microchip Technology during the fourth quarter valued at about $29,000. Finally, Financial Life Planners bought a new position in Microchip Technology during the fourth quarter valued at about $32,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 0.0 %

MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The business has a 50-day moving average of $56.59 and a 200-day moving average of $65.97. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market capitalization of $27.91 billion, a PE ratio of 92.66 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly 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 return on equity of 12.62% and a net margin of 6.49%. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCHP. TD Cowen increased their price target on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Mizuho increased their price target on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. B. Riley reiterated a “buy” rating and issued a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC increased their price target on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.37.

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.