Nisa Investment Advisors LLC Cuts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Nisa Investment Advisors LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,255 shares of the semiconductor company’s stock after selling 12,816 shares during the period. Nisa Investment Advisors LLC’s holdings in Microchip Technology were worth $11,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. Assenagon Asset Management S.A. boosted its stake in shares of Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Microchip Technology by 2,390.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock valued at $209,653,000 after purchasing an additional 2,199,290 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after buying an additional 1,597,263 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Microchip Technology by 78.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock valued at $200,329,000 after buying an additional 961,801 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after buying an additional 776,408 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reduced their target price on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. The Goldman Sachs Group decreased their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $59.57 on Friday. The stock has a market capitalization of $31.99 billion, a P/E ratio of 41.66 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $60.53 and its 200 day moving average price is $72.98. Microchip Technology Incorporated has a twelve month low of $54.47 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.455 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.06%. Microchip Technology’s payout ratio is presently 127.27%.

Microchip Technology Company Profile

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.