Forsta AP Fonden Buys 4,400 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Forsta AP Fonden lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 116,200 shares of the semiconductor company’s stock after buying an additional 4,400 shares during the period. Forsta AP Fonden’s holdings in Microchip Technology were worth $6,664,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Twelve Points Wealth Management LLC increased its position in Microchip Technology by 38.2% during the fourth quarter. Twelve Points Wealth Management LLC now owns 18,556 shares of the semiconductor company’s stock valued at $1,064,000 after acquiring an additional 5,131 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Microchip Technology by 6.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 25,555 shares of the semiconductor company’s stock worth $1,466,000 after purchasing an additional 1,505 shares during the period. Lebenthal Global Advisors LLC grew its holdings in Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 266 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in Microchip Technology by 12.7% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 30,418 shares of the semiconductor company’s stock worth $1,744,000 after purchasing an additional 3,438 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Microchip Technology by 10.0% in the fourth quarter. Pacer Advisors Inc. now owns 100,434 shares of the semiconductor company’s stock worth $5,760,000 after purchasing an additional 9,152 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCHP. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. B. Riley reduced their target price on Microchip Technology from $93.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Evercore ISI reissued an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research note 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 on the stock in a research note on Friday, January 10th. Finally, TD Cowen lowered their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Microchip Technology Stock Performance

MCHP stock opened at $54.30 on Friday. Microchip Technology Incorporated has a one year low of $53.98 and a one year high of $100.57. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 37.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a 50-day simple moving average of $59.54 and a two-hundred day simple moving average of $71.60.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 3.35%. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

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.