Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,412 shares of the semiconductor company’s stock after selling 23,390 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Microchip Technology were worth $3,000,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MCHP. Janus Henderson Group PLC grew its holdings in shares of Microchip Technology by 2,959.9% during the second quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock worth $623,093,000 after buying an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Microchip Technology by 66.5% during the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after buying an additional 2,507,707 shares in the last quarter. Fred Alger Management Inc. grew its holdings in shares of Microchip Technology by 80.9% during the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after buying an additional 1,497,699 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after buying an additional 1,042,622 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Microchip Technology by 75.5% during the second quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after buying an additional 1,033,992 shares in the last quarter.

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Shares of Microchip Technology Incorporated (MCHP) opened at $91.30 on Monday. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92. The stock has a market capitalization of $21,250.00, a P/E ratio of 19.34, a PEG ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue was up 16.2% on a year-over-year basis. sell-side analysts anticipate that Microchip Technology Incorporated will post 5.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be given a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 58.00%.

In related news, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the sale, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $200,876.17. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

A number of research firms recently issued reports on MCHP. B. Riley reiterated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 4th. Mizuho restated a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Microchip Technology in a research note on Wednesday, August 9th. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $94.00 price target (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $99.41.

About Microchip Technology

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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

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