Meiji Yasuda Asset Management Co Ltd. Boosts Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in Microchip Technology by 68.4%, acquiring an additional 62,994 shares, bringing their total holdings to 155,037 shares valued at approximately $7.5 million.
• Microchip Technology recently reported earnings of $0.27 per share, exceeding analysts' expectations, although revenue declined by 13.3% year-over-year.
• In August, several analysts raised their price targets for Microchip Technology, with Citigroup increasing its target from $68 to $90 and Raymond James setting a new target of $75.

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 68.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,037 shares of the semiconductor company's stock after buying an additional 62,994 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Microchip Technology were worth $7,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Orbis Allan Gray Ltd purchased a new stake in Microchip Technology during the 1st quarter valued at about $369,612,000. Invesco Ltd. grew its stake in Microchip Technology by 63.0% during the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock valued at $808,787,000 after acquiring an additional 6,459,123 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Microchip Technology by 138.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock valued at $427,681,000 after acquiring an additional 5,136,154 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock valued at $306,541,000 after acquiring an additional 3,912,895 shares in the last quarter. Finally, Boston Partners grew its stake in Microchip Technology by 35.3% during the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company's stock valued at $517,082,000 after acquiring an additional 2,795,650 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Raymond James Financial raised their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. Rosenblatt Securities raised their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Cantor Fitzgerald started coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective for the company. Finally, Truist Financial raised their price objective on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and a consensus target price of $76.58.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Microchip Technology Trading Up 0.4%

MCHP stock traded up $0.28 during mid-day trading on Thursday, hitting $65.02. 6,453,939 shares of the company were exchanged, compared to its average volume of 10,225,627. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $35.09 billion, a P/E ratio of -191.24, a PEG ratio of 1.86 and a beta of 1.56. The business has a fifty day simple moving average of $68.27 and a 200-day simple moving average of $59.63. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology's payout ratio is currently -535.29%.

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.