Nomura Asset Management Co. Ltd. Has $31.97 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Nomura Asset Management Co. Ltd. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 49.6% in the 4th quarter, HoldingsChannel reports. The firm owned 557,437 shares of the semiconductor company’s stock after selling 548,462 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $31,969,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. Mainstream Capital Management LLC bought a new position in Microchip Technology during the fourth quarter worth $26,000. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter worth about $29,000. Financial Life Planners acquired a new position in Microchip Technology in the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology in the 4th quarter valued at about $34,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MCHP shares. Needham & Company LLC boosted their price objective on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. TD Cowen boosted their price target on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. B. Riley reissued a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Microchip Technology Trading Down 4.1 %

Shares of MCHP opened at $48.70 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 52-week low of $48.27 and a 52-week high of $100.57. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. The business’s fifty day moving average is $55.65 and its 200-day moving average is $63.90.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is 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.