Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lifted by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,192 shares of the semiconductor company’s stock after purchasing an additional 460 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $1,139,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Metis Global Partners LLC grew its stake in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Microchip Technology by 35.1% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 65,023 shares of the semiconductor company’s stock worth $5,221,000 after purchasing an additional 16,906 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Microchip Technology by 1.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 166,054 shares of the semiconductor company’s stock worth $13,332,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Community Bank & Trust Waco Texas increased its position in shares of Microchip Technology by 0.7% in the third quarter. Community Bank & Trust Waco Texas now owns 59,756 shares of the semiconductor company’s stock worth $4,798,000 after acquiring an additional 427 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of several analyst reports. Needham & Company LLC dropped their target price on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Mizuho set a $95.00 price target on shares of Microchip Technology in a report on Friday, October 18th. Jefferies Financial Group decreased their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. B. Riley decreased their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial cut shares of Microchip Technology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $89.00 to $80.00 in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Microchip Technology Trading Down 4.2 %

NASDAQ MCHP opened at $62.86 on Friday. The company has a market cap of $33.76 billion, a PE ratio of 43.96 and a beta of 1.53. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 12 month low of $62.63 and a 12 month high of $100.57. The stock has a 50 day moving average of $75.88 and a 200-day moving average of $84.33.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $1.54 EPS. The company’s quarterly revenue was down 48.4% on a year-over-year basis. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 2.90%. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Microchip Technology 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.