Tokio Marine Asset Management Co. Ltd. Increases Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,194 shares of the semiconductor company’s stock after acquiring an additional 380 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MCHP. DAVENPORT & Co LLC increased its stake in shares of Microchip Technology by 3.4% during the third quarter. DAVENPORT & Co LLC now owns 14,226 shares of the semiconductor company’s stock worth $1,110,000 after acquiring an additional 464 shares during the period. Private Trust Co. NA grew its position in Microchip Technology by 2.8% during the third quarter. Private Trust Co. NA now owns 5,675 shares of the semiconductor company’s stock worth $443,000 after buying an additional 157 shares during the period. Czech National Bank grew its position in Microchip Technology by 46.7% during the third quarter. Czech National Bank now owns 95,139 shares of the semiconductor company’s stock worth $7,426,000 after buying an additional 30,291 shares during the period. Handelsbanken Fonder AB grew its position in Microchip Technology by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 207,377 shares of the semiconductor company’s stock worth $16,186,000 after buying an additional 4,553 shares during the period. Finally, Ballentine Partners LLC grew its position in Microchip Technology by 10.4% during the third quarter. Ballentine Partners LLC now owns 3,348 shares of the semiconductor company’s stock worth $261,000 after buying an additional 316 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCHP shares. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a research report on Monday, April 8th. Truist Financial lowered their target price 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. Needham & Company LLC increased their price target on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. Finally, Evercore ISI started coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Trading Up 1.8 %

NASDAQ:MCHP traded up $1.67 during trading hours on Friday, reaching $93.88. 551,489 shares of the company were exchanged, compared to its average volume of 5,495,089. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The firm has a market cap of $50.73 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.77 and a beta of 1.65. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.30. The stock has a 50 day simple moving average of $87.00 and a 200 day simple moving average of $84.55.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $1.48 earnings per share. Microchip Technology’s revenue was down 18.6% on a year-over-year basis. As a group, analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology 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.