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

Nissay Asset Management Corp Japan increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm 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’s holdings in Microchip Technology were worth $31,880,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MCHP. EFG International AG acquired a new position in Microchip Technology during the fourth quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Continuum Advisory LLC acquired a new stake in shares of Microchip Technology in the second quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new position in shares of Microchip Technology during the 2nd quarter worth approximately $31,000. Finally, Reflection Asset Management bought a new position in shares of Microchip Technology during the 4th quarter worth approximately $33,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction 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 directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,949 shares of company stock worth $864,493. Company insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $72.93 on Friday. The stock has a 50 day simple moving average of $81.90 and a 200 day simple moving average of $81.37. The stock has a market cap 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 Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. 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 (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is presently 271.64%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCHP shares. Barclays increased their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Wells Fargo & Company reduced their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Monday, August 17th. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Finally, TD Cowen dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.67.

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.