China Universal Asset Management Co. Ltd. Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

China Universal Asset Management Co. Ltd. boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 52.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,284 shares of the semiconductor company's stock after buying an additional 4,545 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Microchip Technology were worth $643,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Microchip Technology in the fourth quarter valued at approximately $51,000. Proficio Capital Partners LLC acquired a new position in Microchip Technology during the fourth quarter worth $3,818,000. Larson Financial Group LLC grew its holdings in Microchip Technology by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 3,366 shares of the semiconductor company's stock worth $193,000 after acquiring an additional 428 shares during the period. OFI Invest Asset Management acquired a new position in Microchip Technology during the fourth quarter worth $29,000. Finally, Independent Advisor Alliance lifted its position in shares of Microchip Technology by 136.2% during the 4th quarter. Independent Advisor Alliance now owns 10,627 shares of the semiconductor company's stock valued at $609,000 after acquiring an additional 6,127 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp lifted their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday. Mizuho upped their target price on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday. Morgan Stanley upped their target price on Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a research report on Friday, May 9th. Finally, Truist Financial upped their price objective on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.10.

Microchip Technology Trading Up 0.5%

Shares of Microchip Technology stock traded up $0.40 during trading hours on Thursday, reaching $75.08. The stock had a trading volume of 7,550,327 shares, compared to its average volume of 8,950,893. The firm has a 50 day simple moving average of $63.24 and a two-hundred day simple moving average of $56.12. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of -7,508.00, a P/E/G ratio of 2.22 and a beta of 1.52. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The company's quarterly revenue was down 26.8% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.42%. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

Insider Transactions at Microchip Technology

In other news, Director Karlton D. Johnson sold 494 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director directly owned 3,468 shares in the company, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer owned 34,313 shares in the company, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Microchip Technology Company 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.