Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,888 shares of the semiconductor company’s stock after buying an additional 718 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Microchip Technology were worth $6,272,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MCHP. Van ECK Associates Corp raised its holdings in shares of Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after buying an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. increased its holdings in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Microchip Technology by 20.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after buying an additional 460,697 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new stake in shares of Microchip Technology during the third quarter worth approximately $27,744,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC increased their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Transactions at Microchip Technology

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

Microchip Technology Price Performance

NASDAQ MCHP opened at $53.50 on Friday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52. The company has a 50-day moving average price of $56.51 and a two-hundred day moving average price of $65.68.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 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.