AIA Group Ltd Has $403,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

AIA Group Ltd increased its stake in Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 37.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,366 shares of the semiconductor company’s stock after buying an additional 1,474 shares during the quarter. AIA Group Ltd’s holdings in Microchip Technology were worth $403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Landmark Wealth Management LLC bought a new stake in Microchip Technology during the first quarter worth $30,000. Catalyst Capital Advisors LLC increased its stake in shares of Microchip Technology by 83.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 303 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 138 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Microchip Technology by 100.0% in the 4th quarter. Tortoise Investment Management LLC now owns 334 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Riverview Trust Co acquired a new stake in Microchip Technology in the 1st quarter valued at about $26,000. Finally, Capital Advisors Ltd. LLC bought a new position in Microchip Technology during the fourth quarter worth about $30,000. 89.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MCHP. Wells Fargo & Company upped their price objective on Microchip Technology from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Cowen raised their price target on Microchip Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Microchip Technology from $95.00 to $85.00 in a report on Tuesday, May 10th. StockNews.com upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Finally, Mizuho upped their price target on shares of Microchip Technology from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.73.

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Ganesh Moorthy bought 8,000 shares of the business’s stock in a transaction on Friday, June 17th. The stock was purchased at an average cost of $57.29 per share, for a total transaction of $458,320.00. Following the completion of the purchase, the chief executive officer now directly owns 720,313 shares of the company’s stock, valued at $41,266,731.77. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Microchip Technology news, Director Matthew W. Chapman sold 1,000 shares of Microchip Technology stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $66.66, for a total value of $66,660.00. Following the transaction, the director now owns 36,386 shares in the company, valued at $2,425,490.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ganesh Moorthy bought 8,000 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was bought at an average cost of $57.29 per share, with a total value of $458,320.00. Following the acquisition, the chief executive officer now directly owns 720,313 shares of the company’s stock, valued at approximately $41,266,731.77. The disclosure for this purchase can be found here. Insiders have sold 9,564 shares of company stock valued at $637,217 over the last three months. 2.00% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $72.76 on Friday. The stock has a market capitalization of $40.20 billion, a PE ratio of 26.75, a P/E/G ratio of 1.14 and a beta of 1.62. Microchip Technology Incorporated has a fifty-two week low of $54.33 and a fifty-two week high of $90.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.78 and a quick ratio of 1.14. The business has a fifty day moving average price of $63.68 and a two-hundred day moving average price of $68.41.

Microchip Technology (NASDAQ:MCHPGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.10. Microchip Technology had a return on equity of 44.90% and a net margin of 21.34%. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that Microchip Technology Incorporated will post 5.15 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be given a dividend of $0.301 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. Microchip Technology’s dividend payout ratio (DPR) is currently 40.44%.

Microchip Technology Company Profile

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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 microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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