Asset Management One Co. Ltd. Purchases 5,152 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Asset Management One Co. Ltd. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,360 shares of the semiconductor company’s stock after acquiring an additional 5,152 shares during the period. Asset Management One Co. Ltd.’s holdings in Microchip Technology were worth $16,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MCHP. SeaCrest Wealth Management LLC grew its stake in shares of Microchip Technology by 3.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after buying an additional 131 shares during the last quarter. Corundum Group Inc. grew its stake in shares of Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after buying an additional 143 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Microchip Technology by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 148 shares during the last quarter. Busey Bank boosted its stake in Microchip Technology by 2.6% during the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after purchasing an additional 155 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its stake in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. B. Riley cut their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $110.00 to $90.00 in a research note on Friday, August 2nd. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and increased their price target for the company from $90.00 to $100.00 in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.89.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $75.09 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. The business’s 50-day simple moving average is $77.17 and its two-hundred day simple moving average is $85.20. The stock has a market cap of $40.29 billion, a PE ratio of 30.04 and a beta of 1.53. Microchip Technology Incorporated has a 52 week low of $71.76 and a 52 week high of $100.57.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.42%. Microchip Technology’s dividend payout ratio (DPR) is currently 72.80%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

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.