Nissay Asset Management Corp Japan ADV trimmed its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 6.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 35,653 shares of the semiconductor company’s stock after selling 2,661 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Microchip Technology were worth $2,958,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Microchip Technology by 7,043.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 1,815,732 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth about $26,000. Morgan Dempsey Capital Management LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth about $28,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Microchip Technology in the 1st quarter worth about $31,000. Finally, Lindbrook Capital LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth about $32,000.

A number of equities analysts have recently issued reports on the company. BidaskClub upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Zacks Investment Research cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 price objective on shares of Microchip Technology in a report on Monday, May 6th. Mizuho upped their price objective on Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets cut their price objective on Microchip Technology from $118.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $104.32.

NASDAQ MCHP opened at $84.66 on Thursday. Microchip Technology Inc. has a 1-year low of $60.70 and a 1-year high of $104.20. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.93 and a quick ratio of 0.63. The stock has a market capitalization of $20.06 billion, a PE ratio of 13.92, a P/E/G ratio of 1.11 and a beta of 1.31.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $1.40 EPS. Microchip Technology’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities research analysts forecast that Microchip Technology Inc. will post 5.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $0.3655 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, May 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s payout ratio is 24.01%.

In other Microchip Technology news, Director L B. Day sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the transaction, the director now owns 9,238 shares of the company’s stock, valued at approximately $783,567.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew W. Chapman sold 4,660 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $91.04, for a total value of $424,246.40. Following the transaction, the director now directly owns 19,080 shares of the company’s stock, valued at approximately $1,737,043.20. The disclosure for this sale can be found here. Insiders have sold a total of 10,516 shares of company stock valued at $931,366 in the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

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About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

See Also: Net Income

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

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