Nomura Asset Management Co. Ltd. Sells 548,462 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Nomura Asset Management Co. Ltd. lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 49.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,437 shares of the semiconductor company’s stock after selling 548,462 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.10% of Microchip Technology worth $31,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Microchip Technology in the fourth quarter worth about $452,627,000. Van ECK Associates Corp boosted its stake in shares of Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $78,661,000. Finally, Franklin Resources Inc. raised its stake in shares of Microchip Technology by 30.2% during the third 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 during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MCHP shares. B. Riley reaffirmed a “buy” rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI raised their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Trading Down 4.1 %

MCHP opened at $48.70 on Friday. The firm’s fifty day simple moving average is $55.65 and its 200 day simple moving average is $63.90. The stock has a market capitalization of $26.19 billion, a P/E ratio of 86.96 and a beta of 1.52. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $48.27 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.74%. 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.