Handelsbanken Fonder AB Boosts Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Handelsbanken Fonder AB boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,224 shares of the semiconductor company’s stock after acquiring an additional 40,274 shares during the period. Handelsbanken Fonder AB owned 0.05% of Microchip Technology worth $15,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Advocates Investment Management lifted its position in Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares during the last quarter. Metis Global Partners LLC lifted its position in Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares during the last quarter. Americana Partners LLC increased its stake in Microchip Technology by 5.5% during the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 179 shares in the last quarter. Plato Investment Management Ltd increased its stake in Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 191 shares in the last quarter. Finally, Summit Global Investments increased its stake in Microchip Technology by 2.5% during the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 5.0 %

MCHP stock opened at $61.07 on Friday. The firm has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm’s fifty day moving average is $56.68 and its 200 day moving average is $68.16. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp cut their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. B. Riley restated a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Evercore ISI restated an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Citigroup cut their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

About Microchip Technology

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.