Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 33.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,544 shares of the semiconductor company’s stock after selling 31,450 shares during the period. Cozad Asset Management Inc.’s holdings in Microchip Technology were worth $3,530,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC acquired a new stake in Microchip Technology during the 4th quarter valued at $5,917,000. Consolidated Planning Corp acquired a new position in Microchip Technology during the 4th quarter worth $308,000. Quadrature Capital Ltd acquired a new position in Microchip Technology during the 3rd quarter worth $3,312,000. Symphony Financial Ltd. Co. acquired a new position in Microchip Technology during the 4th quarter worth $520,000. Finally, Benjamin Edwards Inc. grew its holdings in Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 9,230 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCHP shares. B. Riley reissued a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Trading Up 3.1 %

Microchip Technology stock opened at $53.50 on Monday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $56.51 and a two-hundred day moving average price of $65.58. The firm has a market capitalization of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

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.