Nisa Investment Advisors LLC Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Nisa Investment Advisors LLC reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,029 shares of the semiconductor company's stock after selling 4,226 shares during the quarter. Nisa Investment Advisors LLC's holdings in Microchip Technology were worth $9,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $452,627,000. Barrow Hanley Mewhinney & Strauss LLC boosted 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 purchasing an additional 3,912,895 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Microchip Technology by 90.0% in the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after purchasing an additional 3,013,162 shares in the last quarter. Meritage Group LP purchased a new position in shares of Microchip Technology in the fourth quarter worth $145,033,000. Finally, Fiduciary Management Inc. WI bought a new position in shares of Microchip Technology during the fourth quarter valued at $119,431,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Microchip Technology in a research report on Friday, May 9th. KeyCorp boosted their price objective on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday. Raymond James Financial raised their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. Evercore ISI boosted their target price on shares of Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group initiated coverage on Microchip Technology in a report on Thursday. They set a "buy" rating and a $88.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.10.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction that occurred on 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 directly owned 34,313 shares in the company, valued at $1,913,979.14. This represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total transaction of $29,980.86. Following the sale, the director owned 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Trading Up 0.5%

Microchip Technology stock opened at $75.08 on Friday. 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 12-month low of $34.13 and a 12-month high of $96.98. 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 firm has a 50 day moving average of $63.83 and a 200 day moving average of $56.23.

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

Microchip Technology Dividend Announcement

The firm also recently announced 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. This represents a $1.82 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Microchip Technology 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.

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