Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Increased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 109,888 shares of the semiconductor company’s stock after purchasing an additional 718 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Microchip Technology were worth $6,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp raised its holdings in shares of Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after purchasing an additional 3,131,807 shares in the last quarter. Franklin Resources Inc. raised its holdings 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 worth $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Microchip Technology by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock worth $180,295,000 after purchasing an additional 116,823 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Microchip Technology by 9,901.6% in 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after acquiring an additional 460,697 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Performance

MCHP opened at $53.50 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market cap of $28.77 billion, a PE ratio of 95.54 and a beta of 1.52. The stock has a 50-day moving average of $56.51 and a 200-day moving average of $65.68. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. TD Cowen lifted their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. 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 research report on Friday, February 7th. Morgan Stanley dropped their target price 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. Finally, Needham & Company LLC lifted their target price 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. Two analysts have rated the stock with a sell rating, four have issued 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.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.