Livforsakringsbolaget Skandia Omsesidigt Buys 500 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 68,230 shares of the semiconductor company’s stock after acquiring an additional 500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Microchip Technology were worth $6,153,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 3rd quarter valued at about $26,000. BKM Wealth Management LLC bought a new stake in Microchip Technology in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in Microchip Technology in the 4th quarter worth approximately $27,000. Fortitude Family Office LLC bought a new stake in Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Almanack Investment Partners LLC. bought a new stake in Microchip Technology in the 3rd quarter worth approximately $29,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.86 during trading hours on Wednesday, hitting $85.07. 4,820,388 shares of the stock were exchanged, compared to its average volume of 5,533,114. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.30. The firm’s fifty day moving average price is $86.55 and its 200 day moving average price is $84.24. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $45.97 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.62 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Evercore ISI assumed coverage on Microchip Technology in a research report on Tuesday. They issued an “outperform” rating and a $106.00 target price for the company. Susquehanna reissued a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. Truist Financial reduced their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, January 18th. Finally, StockNews.com lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $92.25.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.