2 weeks Ago By ABMN Staff
Dai ichi Life Insurance Company Ltd grew its position in Microchip Technology Incorporated ( NASDAQ:MCHP – Free Report ) by 101.8% during the second quarter, Holdings Channel.com reports.
The firm owned 25,333 shares of the semiconductor company’s stock after acquiring an additional 12,782 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Microchip Technology were worth $2,318,000 as of its most recent SEC filing. Several other institutional investors have also modified their holdings of the company.
Vanguard Group Inc. increased its stake in Microchip Technology by 2.9% in the first quarter.
Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after purchasing an additional 1,921,497 shares during the last quarter. Principal Financial Group Inc.
grew its position in shares of Microchip Technology by 0.4% in the 2nd quarter. Principal Financial Group Inc.
now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after buying an additional 33,603 shares during the last quarter. Boston Partners raised its stake in Microchip Technology by 10.7% during the 1st quarter.
Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after acquiring an additional 736,818 shares in the last quarter. Norges Bank purchased a new stake in Microchip Technology in the fourth quarter valued at $672,196,000. Finally, Van ECK Associates Corp boosted its stake in Microchip Technology by 4.
9% in the second quarter. Van ECK Associates Corp now owns 6,363,937 shares of the semiconductor company’s stock valued at $582,301,000 after acquiring an additional 295,626 shares in the last quarter. 91.
51% of the stock is owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth Several research firms have recently weighed in on MCHP. Rosenblatt Securities reissued a “buy” rating and issued a $100.
00 target price on shares of Microchip Technology in a report on Wednesday, July 31st. Needham & Company LLC reduced their price objective on Microchip Technology from $100.00 to $96.
00 and set a “buy” rating for the company in a research note on Monday, August 5th. Piper Sandler upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $100.
00 in a research report on Friday, August 16th. TD Cowen reduced their price target on shares of Microchip Technology from $90.00 to $80.
00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Susquehanna lowered their price objective on shares of Microchip Technology from $115.00 to $105.
00 and set a “positive” rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.
95. Insider Transactions at Microchip Technology In related news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.
50. The transaction was disclosed in a filing with the SEC, which is available through this link . Corporate insiders own 2.
07% of the company’s stock. Microchip Technology Price Performance Shares of NASDAQ:MCHP opened at $77.62 on Monday.
The business’s 50 day simple moving average is $82.75 and its 200-day simple moving average is $88.06.
The firm has a market capitalization of $41.64 billion, a price-to-earnings ratio of 22.37 and a beta of 1.
53. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $100.
57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.
94 and a quick ratio of 1.08. Microchip Technology ( NASDAQ:MCHP – Get Free Report ) last announced its quarterly earnings results on Thursday, August 1st.
The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.
01. Microchip Technology had a return on equity of 28.33% and a net margin of 20.
80%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.
24 billion. During the same quarter last year, the business posted $1.56 earnings per share.
The business’s revenue for the quarter was down 45.8% on a year-over-year basis. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.
74 earnings per share for the current fiscal year. Microchip Technology Increases Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.
454 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.
34%. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.
45. Microchip Technology’s dividend payout ratio is 52.16%.
About Microchip Technology ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Microchip Technology Incorporated ( NASDAQ:MCHP – Free Report ). Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter .
.
