Nissay Asset Management Corp Japan Has $31.88 Million Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Nissay Asset Management increased its Microchip Technology stake by 23.3% in the second quarter, ending with 349,560 shares valued at approximately $31.88 million. Institutional investors collectively own 91.51% of the company.
• Analysts maintain a generally positive outlook, with Microchip carrying a consensus “Moderate Buy” rating and an average price target of $98.67, despite some recent target reductions and a $72.93 share price.
• Microchip exceeded quarterly earnings and revenue expectations, reporting $0.76 in EPS and $1.48 billion in revenue, while announcing a quarterly dividend of $0.455 per share, equivalent to a 2.5% annual yield.

Nissay Asset Management Corp Japan lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,560 shares of the semiconductor company's stock after purchasing an additional 66,106 shares during the quarter. Nissay Asset Management Corp Japan owned 0.06% of Microchip Technology worth $31,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company's stock valued at $1,839,153,000 after buying an additional 783,157 shares in the last quarter. Boston Partners raised its holdings in shares of Microchip Technology by 9.5% during the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company's stock worth $1,044,024,000 after acquiring an additional 1,406,885 shares during the period. Geode Capital Management LLC raised its holdings in shares of Microchip Technology by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company's stock worth $977,638,000 after acquiring an additional 213,188 shares during the period. Invesco Ltd. lifted its position in Microchip Technology by 4.8% in the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company's stock valued at $955,298,000 after acquiring an additional 684,561 shares in the last quarter. Finally, Barclays PLC lifted its position in Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MCHP shares. Zacks Research cut Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. BMO Capital Markets began coverage on Microchip Technology in a report on Friday, August 21st. They issued an "outperform" rating and a $95.00 price target on the stock. Wells Fargo & Company reduced their price objective on Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating for the company in a research report on Monday, July 20th. Rosenblatt Securities reiterated a "buy" rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Finally, Needham & Company LLC lifted their target price on Microchip Technology from $84.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.67.

Insider Activity at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company's stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,949 shares of company stock valued at $864,493 over the last three months. Insiders own 1.79% of the company's stock.

Microchip Technology Stock Down 3.4%

Shares of MCHP stock opened at $72.93 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The firm's fifty day moving average price is $81.90 and its two-hundred day moving average price is $81.37. The firm has a market capitalization of $39.60 billion, a P/E ratio of 108.85, a PEG ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company's quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology's dividend payout ratio is presently 271.64%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip's products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.

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