Asset Management One Co. Ltd. Has $12.29 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Asset Management One Co. Ltd. boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,669 shares of the semiconductor company’s stock after acquiring an additional 4,309 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Microchip Technology were worth $12,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCHP. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the third quarter valued at approximately $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology in the fourth quarter worth $32,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC purchased a new position in Microchip Technology in the third quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC increased its position in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 2.8 %

Shares of MCHP opened at $55.76 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $56.79 and a two-hundred day moving average price of $68.69. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. Equities analysts predict that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. B. Riley restated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho reduced their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley cut their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. KeyCorp decreased their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.11.

About Microchip Technology

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.