Sumitomo Mitsui Trust Holdings Inc. Has $221.59 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Sumitomo Mitsui Trust Holdings Inc. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,457,152 shares of the semiconductor company’s stock after purchasing an additional 11,163 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.45% of Microchip Technology worth $221,586,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MCHP. Louisiana State Employees Retirement System acquired a new position in shares of Microchip Technology during the 4th quarter valued at about $6,827,000. Crestwood Advisors Group LLC acquired a new position in shares of Microchip Technology during the 4th quarter valued at about $416,000. Simplicity Solutions LLC increased its holdings in shares of Microchip Technology by 2.2% during the 4th quarter. Simplicity Solutions LLC now owns 17,136 shares of the semiconductor company’s stock valued at $1,545,000 after acquiring an additional 368 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Microchip Technology by 4.5% during the 4th quarter. Perigon Wealth Management LLC now owns 5,879 shares of the semiconductor company’s stock valued at $530,000 after acquiring an additional 251 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Microchip Technology by 27.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 10,586 shares of the semiconductor company’s stock valued at $955,000 after acquiring an additional 2,278 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCHP. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Thursday, January 18th. The Goldman Sachs Group decreased their target price on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. TD Cowen increased their target price on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. UBS Group decreased their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $94.00 target price on shares of Microchip Technology in a research note on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.33.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Karlton D. Johnson sold 370 shares of the business’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 sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were 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 owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $85.64 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The company has a market capitalization of $46.28 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.61 and a beta of 1.65. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The business has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $84.13.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm posted $1.48 EPS. The business’s revenue was down 18.6% on a year-over-year basis. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.45 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

About Microchip Technology

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.