Cozad Asset Management Inc. Sells 814 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cozad Asset Management Inc. trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,062 shares of the semiconductor company’s stock after selling 814 shares during the quarter. Microchip Technology accounts for about 1.2% of Cozad Asset Management Inc.’s portfolio, making the stock its 19th largest position. Cozad Asset Management Inc.’s holdings in Microchip Technology were worth $10,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the third quarter worth approximately $26,000. BKM Wealth Management LLC bought a new position in shares of Microchip Technology during the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in Microchip Technology in the fourth quarter worth $27,000. Fortitude Family Office LLC bought a new stake in Microchip Technology in the 4th quarter worth $29,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Microchip Technology during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock traded down $0.55 on Tuesday, reaching $92.63. 1,336,222 shares of the company were exchanged, compared to its average volume of 5,514,017. The company has a market cap of $50.06 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.86 and a beta of 1.65. The business has a 50-day moving average price of $87.47 and a 200 day moving average price of $84.79. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is 42.06%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Thursday, January 18th. Susquehanna reiterated a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. The Goldman Sachs Group dropped their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. TD Cowen increased their price target on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Finally, UBS Group cut their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.