Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 224,182 shares of the semiconductor company's stock after buying an additional 13,513 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Microchip Technology were worth $10,853,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its holdings in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after buying an additional 359 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $29,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $34,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of MCHP traded down $0.29 during mid-day trading on Friday, hitting $70.49. The stock had a trading volume of 6,885,466 shares, compared to its average volume of 8,880,695. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $96.98. The company has a market cap of $38.02 billion, a PE ratio of -7,049.00, a PEG ratio of 2.13 and a beta of 1.48. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The company's fifty day simple moving average is $58.09 and its two-hundred day simple moving average is $55.28.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.58%. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Cantor Fitzgerald initiated coverage on Microchip Technology in a research note on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective for the company. Mizuho raised their price objective on Microchip Technology from $68.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Raymond James Financial raised their price objective on Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen lowered Microchip Technology from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.15.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the sale, the director now owns 3,468 shares of the company's stock, valued at $210,472.92. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer now directly owns 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.