Nissay Asset Management Corp Japan ADV Has $13.70 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Nissay Asset Management Corp Japan ADV increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,865 shares of the semiconductor company's stock after purchasing an additional 7,092 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Microchip Technology were worth $13,702,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in Microchip Technology during the fourth quarter valued at about $26,000. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% in the fourth 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 bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $34,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $0.41 during trading on Friday, reaching $61.21. The company's stock had a trading volume of 6,583,210 shares, compared to its average volume of 8,553,790. The firm has a 50 day moving average price of $47.51 and a 200 day moving average price of $55.90. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 109.30 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The company had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm's quarterly revenue was down 26.8% on a year-over-year basis. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MCHP shares. Mizuho increased their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of Microchip Technology in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. TD Cowen raised their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a report on Friday, May 9th. Finally, B. Riley raised their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $67.42.

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.