Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,043 shares of the semiconductor company’s stock after buying an additional 4,528 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Microchip Technology were worth $5,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after purchasing an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Microchip Technology in the fourth quarter valued at $78,661,000. Franklin Resources Inc. raised its stake in shares of Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after buying an additional 776,408 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Microchip Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after buying an additional 569,699 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $52.36 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 93.50 and a beta of 1.52. Microchip Technology Incorporated has a one year low of $49.92 and a one year high of $100.57. The company has a 50 day moving average price of $56.04 and a 200 day moving average price of $64.34.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley dropped their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group reduced their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus dropped their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Raymond James restated a “strong-buy” rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

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.