Nordea Investment Management AB Has $8.41 Million Position in Microchip Technology Inc. (MCHP)

Nordea Investment Management AB boosted its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,946 shares of the semiconductor company’s stock after purchasing an additional 8,942 shares during the period. Nordea Investment Management AB’s holdings in Microchip Technology were worth $8,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Webster Bank N. A. lifted its stake in Microchip Technology by 19.3% in the fourth quarter. Webster Bank N. A. now owns 864 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 140 shares during the last quarter. Naples Global Advisors LLC lifted its stake in Microchip Technology by 0.6% in the fourth quarter. Naples Global Advisors LLC now owns 31,545 shares of the semiconductor company’s stock valued at $2,417,000 after acquiring an additional 175 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Microchip Technology by 0.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 45,924 shares of the semiconductor company’s stock valued at $3,303,000 after acquiring an additional 224 shares during the last quarter. Colony Group LLC lifted its stake in Microchip Technology by 8.5% in the fourth quarter. Colony Group LLC now owns 2,997 shares of the semiconductor company’s stock valued at $216,000 after acquiring an additional 234 shares during the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in Microchip Technology by 4.9% in the fourth quarter. Archford Capital Strategies LLC now owns 5,771 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 272 shares during the last quarter.

In other Microchip Technology news, VP Mitchell R. Little sold 3,585 shares of Microchip Technology stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $91.17, for a total value of $326,844.45. Following the completion of the sale, the vice president now owns 7,693 shares in the company, valued at approximately $701,370.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director L B. Day sold 3,500 shares of Microchip Technology stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the sale, the director now owns 9,238 shares of the company’s stock, valued at approximately $783,567.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,101 shares of company stock valued at $1,258,210. 2.13% of the stock is currently owned by corporate insiders.

NASDAQ MCHP opened at $87.46 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.92 and a debt-to-equity ratio of 2.04. The stock has a market cap of $19.66 billion, a PE ratio of 16.85, a P/E/G ratio of 1.05 and a beta of 1.23. Microchip Technology Inc. has a 52-week low of $60.70 and a 52-week high of $104.20.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.21. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. Microchip Technology’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. As a group, equities research analysts expect that Microchip Technology Inc. will post 5.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 28.13%.

A number of analysts have commented on MCHP shares. Zacks Investment Research upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 10th. Morgan Stanley increased their price target on shares of Microchip Technology from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 19th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Needham & Company LLC cut shares of Microchip Technology from a “strong-buy” rating to a “buy” rating and cut their price target for the company from $100.00 to $90.00 in a research note on Thursday, January 24th. Finally, ValuEngine upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $102.17.

TRADEMARK VIOLATION WARNING: “Nordea Investment Management AB Has $8.41 Million Position in Microchip Technology Inc. (MCHP)” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2019/04/02/nordea-investment-management-ab-has-8-41-million-position-in-microchip-technology-inc-mchp.html.

Microchip Technology Company Profile

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.

Recommended Story: Fundamental Analysis and Individual Investors

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 Inc. (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.