Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,933 shares of the semiconductor company’s stock after purchasing an additional 3,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Microchip Technology were worth $6,190,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Financial Advocates Investment Management boosted its stake 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 worth $867,000 after buying an additional 158 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 172 shares during the last quarter. Americana Partners LLC increased its stake in Microchip Technology by 5.5% during the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 179 shares during the period. Plato Investment Management Ltd boosted its holdings in Microchip Technology by 5.8% in the third 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 during the period. Finally, Summit Global Investments boosted its holdings in Microchip Technology by 2.5% in the third 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 during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $60.83 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The business’s 50-day moving average price is $56.74 and its 200 day moving average price is $67.88. The firm has a market cap of $32.72 billion, a P/E ratio of 108.63 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.99%. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCHP shares. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Mizuho cut their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities restated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Jefferies Financial Group cut their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, KeyCorp dropped their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.