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

Nissay Asset Management Corp Japan ADV boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,865 shares of the semiconductor company’s stock after buying an additional 7,092 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Microchip Technology were worth $13,702,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $34,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’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 sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 2.6%

NASDAQ:MCHP opened at $60.65 on Thursday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average is $47.18 and its two-hundred day moving average is $56.27. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57. The stock has a market capitalization of $32.62 billion, a price-to-earnings ratio of 108.30 and a beta of 1.42.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology’s payout ratio is currently -18,200.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCHP shares. Mizuho upped their price target on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. UBS Group increased their price objective on Microchip Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Raymond James increased their price objective on Microchip Technology from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.42.

About Microchip Technology

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.