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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,680 shares of the semiconductor company’s stock after purchasing an additional 7,780 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Microchip Technology were worth $3,824,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its stake in Microchip Technology by 3.1% during the third quarter. Brookstone Capital Management now owns 7,410 shares of the semiconductor company’s stock valued at $595,000 after buying an additional 224 shares in the last quarter. CWM LLC lifted its position in shares of Microchip Technology by 1.2% in the 3rd quarter. CWM LLC now owns 32,955 shares of the semiconductor company’s stock valued at $2,646,000 after acquiring an additional 403 shares in the last quarter. First Affirmative Financial Network purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $359,000. Octavia Wealth Advisors LLC acquired a new position in Microchip Technology in the 3rd quarter worth approximately $201,000. Finally, Exchange Traded Concepts LLC grew its position in Microchip Technology by 9.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 153,664 shares of the semiconductor company’s stock worth $12,338,000 after purchasing an additional 13,773 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

NASDAQ MCHP opened at $51.89 on Monday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a fifty day simple moving average of $57.71 and a 200 day simple moving average of $69.84. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a market cap of $27.87 billion, a P/E ratio of 92.66 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.51%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCHP. Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Company 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.