Tokio Marine Asset Management Co. Ltd. Has $1.14 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Tokio Marine Asset Management Co. Ltd. increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.3% during the third quarter, Holdings Channel.com reports. The fund owned 14,192 shares of the semiconductor company’s stock after buying an additional 460 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. SeaCrest Wealth Management LLC lifted its stake in Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock valued at $379,000 after buying an additional 131 shares during the period. Corundum Group Inc. increased its holdings in shares of Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after acquiring an additional 143 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Microchip Technology by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 148 shares in the last quarter. Busey Bank increased its holdings in shares of Microchip Technology by 2.6% during the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after acquiring an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management increased its holdings in shares of Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent research reports. Mizuho set a $95.00 price target on Microchip Technology in a report on Friday, October 18th. Jefferies Financial Group cut their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Susquehanna cut their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology 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 directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $62.86 on Friday. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 43.96 and a beta of 1.53. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 1-year low of $62.63 and a 1-year high of $100.57. The stock’s 50-day moving average is $75.88 and its 200 day moving average is $84.33.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 EPS. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.455 dividend. 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 2.90%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s payout ratio is 127.27%.

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.