Nissay Asset Management Corp Japan ADV Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Nissay Asset Management Corp Japan ADV grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 234,865 shares of the semiconductor company’s stock after purchasing an additional 7,092 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Microchip Technology were worth $13,702,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MCHP. Norges Bank purchased a new position in shares of Microchip Technology during the fourth quarter worth about $452,627,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Microchip Technology by 273.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company’s stock worth $306,541,000 after purchasing an additional 3,912,895 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company’s stock worth $364,792,000 after purchasing an additional 3,013,162 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research reports. Truist Financial raised their price target on Microchip Technology from $43.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, May 9th. Citigroup raised their price target on Microchip Technology from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 9th. KeyCorp lowered their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. UBS Group raised their price target on Microchip Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, B. Riley raised their price target on Microchip Technology from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.42.

Microchip Technology Trading Down 2.6%

Shares of Microchip Technology stock opened at $60.65 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. The company has a market capitalization of $32.62 billion, a P/E ratio of 108.30 and a beta of 1.42. The business has a 50 day moving average price of $47.18 and a 200 day moving average price of $56.27.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company’s quarterly revenue was down 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 3.00%. Microchip Technology’s dividend payout ratio (DPR) is presently -18,200.00%.

Microchip Technology Profile

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.