Tredje AP fonden Has $5.40 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Tredje AP fonden lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 73.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the 4th quarter valued at $26,000. Finally, Rakuten Securities Inc. raised its stake in shares of Microchip Technology by 309.5% in the 4th 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. TD Cowen raised their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Needham & Company LLC lifted their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus lowered their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. The Goldman Sachs Group cut their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $51.89 on Friday. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 92.66 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a 50-day simple moving average of $56.59 and a 200 day simple moving average of $65.97.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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

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.