Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,351 shares of the semiconductor company’s stock after purchasing an additional 678 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Microchip Technology were worth $4,721,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MCHP. Northern Trust Corp raised its stake in Microchip Technology by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock valued at $587,046,000 after acquiring an additional 80,431 shares in the last quarter. Van ECK Associates Corp boosted its stake in Microchip Technology by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock valued at $348,309,000 after purchasing an additional 322,540 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Microchip Technology in the third quarter valued at $225,800,000. Charles Schwab Investment Management Inc. lifted its holdings in Microchip Technology by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,830,397 shares of the semiconductor company’s stock valued at $220,913,000 after acquiring an additional 25,002 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Microchip Technology by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company’s stock worth $221,586,000 after purchasing an additional 11,163 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 2.3 %

Shares of Microchip Technology stock opened at $83.53 on Tuesday. The stock has a market capitalization of $45.14 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.65. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.30. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $86.50 and a 200 day simple moving average of $84.41.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $1.48 EPS. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. Research analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors 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 of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.15%. Microchip Technology’s dividend payout ratio is 42.06%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MCHP shares. TD Cowen boosted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Piper Sandler downgraded shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Thursday, January 4th. UBS Group lowered their price target on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. StockNews.com lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Truist Financial cut their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.50.

Insiders Place Their Bets

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

Microchip Technology Company Profile

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.