Cozad Asset Management Inc. Has $3.53 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

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

A number of other large investors have also made changes to their positions in MCHP. United Bank raised its holdings in shares of Microchip Technology by 21.0% during the third quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock valued at $793,000 after acquiring an additional 1,712 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Microchip Technology during the third quarter valued at approximately $548,000. Metis Global Partners LLC raised its holdings in shares of Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Microchip Technology by 6.7% during the third quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 280 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Microchip Technology by 25.7% during the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock valued at $7,721,000 after acquiring an additional 19,663 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $53.50 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $56.51 and a 200 day simple moving average of $65.58. The company has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year 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 (EPS) 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%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend 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%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Needham & Company LLC upped their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, TD Cowen upped their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology 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.