Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,738 shares of the semiconductor company’s stock after selling 14,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Microchip Technology were worth $2,838,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. City Holding Co. lifted its holdings in Microchip Technology by 1.9% in the 1st quarter. City Holding Co. now owns 43,610 shares of the semiconductor company’s stock worth $3,618,000 after purchasing an additional 801 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Microchip Technology by 42.8% in the 1st quarter. Advisory Services Network LLC now owns 3,068 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 920 shares in the last quarter. Norway Savings Bank lifted its holdings in Microchip Technology by 22.3% in the 1st quarter. Norway Savings Bank now owns 17,150 shares of the semiconductor company’s stock worth $1,423,000 after purchasing an additional 3,125 shares in the last quarter. Enlightenment Research LLC lifted its holdings in Microchip Technology by 316.7% in the 1st quarter. Enlightenment Research LLC now owns 2,500 shares of the semiconductor company’s stock worth $207,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Hallmark Capital Management Inc. lifted its holdings in Microchip Technology by 1.5% in the 1st quarter. Hallmark Capital Management Inc. now owns 206,641 shares of the semiconductor company’s stock worth $17,143,000 after purchasing an additional 3,130 shares in the last quarter.
A number of research analysts recently commented on the company. Mizuho boosted their price target on Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BidaskClub cut Orthofix Medical from a “buy” rating to a “hold” rating in a report on Monday, May 20th. B. Riley boosted their price target on Airgain from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their price target on goeasy from C$55.00 to C$60.00 in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $102.89.
Shares of NASDAQ MCHP traded up $2.02 during trading hours on Tuesday, hitting $95.58. 90,901 shares of the company traded hands, compared to its average volume of 1,951,250. The company has a market capitalization of $22.27 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42. The company has a quick ratio of 0.63, a current ratio of 0.93 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average is $87.27. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $101.35.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS. Sell-side analysts forecast that Microchip Technology Inc. will post 5.56 EPS for the current fiscal year.
In other news, VP James Eric Bjornholt sold 2,188 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.99, for a total transaction of $177,206.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.21% of the company’s stock.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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