Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 453,133 shares of the semiconductor company's stock after purchasing an additional 16,533 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.08% of Microchip Technology worth $21,936,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Consolidated Planning Corp purchased a new stake in shares of Microchip Technology in the fourth quarter valued at $308,000. one8zero8 LLC acquired a new stake in shares of Microchip Technology during the fourth quarter valued at $384,000. Truist Financial Corp boosted its stake in shares of Microchip Technology by 5.8% during the fourth quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock valued at $55,024,000 after acquiring an additional 52,222 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Microchip Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock valued at $3,952,123,000 after acquiring an additional 569,699 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after acquiring an additional 3,013,162 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, the director now owns 3,468 shares in the company, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer now owns 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Microchip Technology Trading Up 1.4%

Shares of Microchip Technology stock traded up $0.88 during trading hours on Friday, reaching $65.25. The stock had a trading volume of 8,884,511 shares, compared to its average volume of 8,662,472. The firm has a 50 day simple moving average of $49.94 and a two-hundred day simple moving average of $54.96. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 116.52 and a beta of 1.48. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company's quarterly revenue was down 26.8% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.79%. Microchip Technology's payout ratio is currently -18,200.00%.

Analysts Set New Price Targets

A number of research firms recently commented on MCHP. B. Riley increased their price objective on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Mizuho increased their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Bank of America raised Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a research note on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research report on Friday, May 9th. Finally, Evercore ISI increased their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $67.68.

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.