Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,700 shares of the semiconductor company’s stock after buying an additional 6,600 shares during the period. Forsta AP Fonden’s holdings in Microchip Technology were worth $8,242,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pitcairn Co. boosted its position in shares of Microchip Technology by 21.2% during the 3rd quarter. Pitcairn Co. now owns 12,271 shares of the semiconductor company’s stock valued at $1,883,000 after purchasing an additional 2,145 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Microchip Technology by 6.9% during the 3rd quarter. Alliancebernstein L.P. now owns 395,061 shares of the semiconductor company’s stock valued at $60,638,000 after purchasing an additional 25,607 shares in the last quarter. Oakworth Capital Inc. bought a new position in shares of Microchip Technology during the 3rd quarter valued at about $77,000. Systematic Alpha Investments LLC boosted its position in shares of Microchip Technology by 100.0% during the 3rd quarter. Systematic Alpha Investments LLC now owns 79,000 shares of the semiconductor company’s stock valued at $5,853,000 after purchasing an additional 39,500 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Microchip Technology by 17.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 172,748 shares of the semiconductor company’s stock valued at $26,515,000 after purchasing an additional 25,703 shares in the last quarter. 44.42% of the stock is currently owned by hedge funds and other institutional investors.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,897 shares of Microchip Technology stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $82.75, for a total transaction of $156,976.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 1,000 shares of Microchip Technology stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $82.75, for a total transaction of $82,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,490 shares of company stock worth $20,028,438. 2.03% of the stock is currently owned by corporate insiders.

NASDAQ:MCHP opened at $84.29 on Friday. Microchip Technology Incorporated has a 12 month low of $64.53 and a 12 month high of $90.00. The firm has a market cap of $46.77 billion, a price-to-earnings ratio of 73.62, a P/E/G ratio of 1.08 and a beta of 1.54. The company has a quick ratio of 1.28, a current ratio of 1.92 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average is $84.87 and its 200-day moving average is $86.99.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, November 4th. The semiconductor company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.01. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Microchip Technology had a net margin of 10.72% and a return on equity of 35.06%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Research analysts predict that Microchip Technology Incorporated will post 4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Stockholders of record on Friday, November 19th were paid a $0.232 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, November 18th. This represents a $0.93 annualized dividend and a dividend yield of 1.10%. Microchip Technology’s dividend payout ratio (DPR) is presently 81.22%.

MCHP has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Microchip Technology in a report on Thursday, October 14th. They issued a “hold” rating and a $76.00 target price for the company. Wells Fargo & Company cut shares of Microchip Technology from an “overweight” rating to an “equal weight” rating in a report on Tuesday, September 28th. They noted that the move was a valuation call. Raymond James raised their target price on shares of Microchip Technology from $90.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 5th. KeyCorp raised their target price on shares of Microchip Technology from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 5th. Finally, Morgan Stanley raised their target price on shares of Microchip Technology from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 5th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology currently has an average rating of “Buy” and a consensus price target of $97.66.

About Microchip Technology

Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.

Recommended Story: How Does the Quiet Period Work?

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP).

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.