Meiji Yasuda Asset Management Co Ltd. Buys New Position in Microchip Technology Incorporated $MCHP

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 74,740 shares of the semiconductor company’s stock, valued at approximately $6,816,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology during the second quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Microchip Technology in the second quarter valued at $31,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology during the 2nd quarter valued at $34,000. EFG International AG acquired a new stake in Microchip Technology during the 4th quarter valued at $29,000. Finally, Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $76.08 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $84.29 and its two-hundred day moving average is $81.51. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a market cap of $41.31 billion, a PE ratio of 113.55, a P/E/G ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s payout ratio is presently 271.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. raised their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Citigroup dropped their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, UBS Group reaffirmed a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares of the company’s stock, valued at $2,484,849.60. This represents a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,837 shares of company stock worth $847,338 over the last 90 days. Insiders own 1.79% of the company’s stock.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.