Tokio Marine Asset Management Co. Ltd. Buys 380 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Tokio Marine Asset Management Co. Ltd. raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,194 shares of the semiconductor company’s stock after purchasing an additional 380 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Microchip Technology in the 3rd quarter valued at $26,000. BKM Wealth Management LLC bought a new stake in Microchip Technology in the 4th quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in Microchip Technology in the 4th quarter valued at $27,000. Fortitude Family Office LLC bought a new stake in Microchip Technology in the 4th quarter valued at $29,000. Finally, Milestone Investment Advisors LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $36,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value 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 $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP traded up $1.67 on Friday, hitting $93.88. 551,489 shares of the company were exchanged, compared to its average volume of 5,495,089. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a market cap of $50.73 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.77 and a beta of 1.65. The firm has a 50 day moving average of $87.00 and a two-hundred day moving average of $84.55.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company posted $1.48 EPS. The company’s revenue was down 18.6% compared to the same quarter last year. On average, equities analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 1.92%. Microchip Technology’s dividend payout ratio is presently 42.06%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MCHP. Wolfe Research raised 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 report on Thursday, January 18th. 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 report on Tuesday, January 9th. TD Cowen upped their target price on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Susquehanna reaffirmed a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a report on Monday, April 8th. Finally, StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Microchip Technology Company 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.