Sumitomo Mitsui Trust Holdings Inc. Buys 11,163 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,457,152 shares of the semiconductor company's stock after purchasing an additional 11,163 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.45% of Microchip Technology worth $221,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN acquired a new position in Microchip Technology in the fourth quarter valued at $110,000. Rockline Wealth Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $4,449,000. 17 Capital Partners LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $1,827,000. GAM Holding AG lifted its holdings in shares of Microchip Technology by 13.9% during the 4th quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company's stock valued at $13,128,000 after acquiring an additional 17,776 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Microchip Technology by 26.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company's stock valued at $6,332,000 after acquiring an additional 16,984 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company's stock, valued at approximately $150,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCHP shares. Stifel Nicolaus reissued a "buy" rating and issued a $94.00 target price on shares of Microchip Technology in a research report on Thursday, March 14th. Piper Sandler downgraded shares of Microchip Technology from an "overweight" rating to a "neutral" rating and set a $80.00 target price on the stock. in a report on Thursday, January 4th. Truist Financial cut their price target on shares of Microchip Technology from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday, January 9th. Rosenblatt Securities restated a "buy" rating and set a $100.00 price target on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, Susquehanna reiterated a "positive" rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.33.

Microchip Technology Price Performance

Shares of MCHP stock traded up $0.06 on Monday, reaching $85.70. The company had a trading volume of 4,388,779 shares, compared to its average volume of 5,571,969. The stock has a market capitalization of $46.31 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.65. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The business's 50-day moving average is $86.49 and its 200 day moving average is $84.13.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm's quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter last year, the business earned $1.48 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This is an increase from Microchip Technology's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.10%. Microchip Technology's dividend payout ratio (DPR) is 42.06%.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.