Swedbank AB increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 72.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,165 shares of the semiconductor company’s stock after buying an additional 43,403 shares during the period. Swedbank AB’s holdings in Microchip Technology were worth $6,665,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. MCF Advisors LLC grew its position in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares in the last quarter. Gagnon Securities LLC raised its holdings in Microchip Technology by 0.5% in the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 137 shares in the last quarter. Evelyn Partners Investment Management LLP lifted its position in shares of Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 140 shares during the period. Millstone Evans Group LLC grew its holdings in shares of Microchip Technology by 23.7% during the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 142 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Microchip Technology by 1.6% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 143 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.
Microchip Technology Price Performance
Shares of MCHP stock traded up $0.33 on Friday, hitting $88.59. 6,677,420 shares of the company’s stock were exchanged, compared to its average volume of 11,773,885. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock has a market cap of $48.11 billion, a P/E ratio of 421.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. The company has a 50 day moving average of $93.64 and a 200 day moving average of $79.82.
Microchip Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. Microchip Technology’s payout ratio is 866.67%.
Wall Street Analysts Forecast Growth
MCHP has been the subject of a number of analyst reports. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Citigroup raised their target price on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Finally, Rosenblatt Securities increased their price target on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.67.
Read Our Latest Report on MCHP
Insider Activity at Microchip Technology
In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 553,302 shares of company stock valued at $49,673,635 in the last quarter. 1.94% of the stock is owned by company insiders.
About Microchip Technology
Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.
Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.
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