Handelsbanken Fonder AB Purchases 19,228 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Handelsbanken Fonder AB lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,605 shares of the semiconductor company's stock after buying an additional 19,228 shares during the period. Handelsbanken Fonder AB's holdings in Microchip Technology were worth $20,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MCHP. BKM Wealth Management LLC acquired a new position in Microchip Technology during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new position in Microchip Technology during the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new position in Microchip Technology during the third quarter valued at approximately $26,000. Finally, Milestone Investment Advisors LLC bought a new stake in Microchip Technology in the third quarter valued at approximately $36,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on MCHP. The Goldman Sachs Group dropped their price objective on Microchip Technology from $87.00 to $77.00 and set a "neutral" rating on the stock in a research note on Friday, February 2nd. Stifel Nicolaus increased their target price on Microchip Technology from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. TD Cowen increased their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a "market perform" rating in a research note on Friday, February 2nd. Wolfe Research upgraded Microchip Technology from a "peer perform" rating to an "outperform" rating and set a $105.00 target price on the stock in a research note on Thursday, January 18th. Finally, StockNews.com lowered Microchip Technology from a "buy" rating to a "hold" rating in a research note on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.50.

Microchip Technology Price Performance

NASDAQ:MCHP traded up $2.66 during trading hours on Tuesday, reaching $86.19. 5,305,259 shares of the company were exchanged, compared to its average volume of 5,529,634. The company has a market capitalization of $46.58 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.49 and a beta of 1.65. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The business has a 50 day moving average of $86.50 and a 200 day moving average of $84.41.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company's revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. Research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, February 22nd. This is an increase from Microchip Technology's previous quarterly dividend of $0.44. Microchip Technology's dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now owns 1,789 shares of the company's stock, valued at approximately $150,276. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares of the company's stock, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the firm's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company's stock.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.