Swedbank AB Has $2.13 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Swedbank AB raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,132 shares of the semiconductor company’s stock after acquiring an additional 2,247 shares during the period. Swedbank AB’s holdings in Microchip Technology were worth $2,130,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Van ECK Associates Corp grew its position in Microchip Technology by 25.1% during the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after buying an additional 1,597,263 shares during the period. Franklin Resources Inc. increased its stake in shares of Microchip Technology by 30.2% during 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake 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 valued at $220,957,000 after buying an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. purchased a new stake in Microchip Technology during the third quarter valued at about $27,744,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 1.6 %

MCHP stock opened at $54.30 on Monday. Microchip Technology Incorporated has a one year low of $53.98 and a one year high of $100.57. The company has a market capitalization of $29.16 billion, a PE ratio of 37.97 and a beta of 1.52. The company’s 50 day moving average price is $59.29 and its two-hundred day moving average price is $71.18. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s revenue was down 48.4% on a year-over-year basis. As a group, analysts predict that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is 127.27%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI reissued an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Mizuho cut their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Piper Sandler decreased their target price on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology Company 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.