Nomura Asset Management Co. Ltd. Lowers Stake in Microchip Technology Incorporated (MCHP)

Nomura Asset Management Co. Ltd. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 109,268 shares of the semiconductor company’s stock after selling 1,841 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $9,810,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MCHP. Principal Financial Group Inc. increased its position in Microchip Technology by 66.5% in the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after purchasing an additional 2,507,707 shares during the period. Fox Run Management L.L.C. increased its position in Microchip Technology by 248.8% in the third quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock worth $1,347,000 after purchasing an additional 10,700 shares during the period. 361 Capital LLC increased its position in Microchip Technology by 35.3% in the second quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock worth $3,769,000 after purchasing an additional 12,730 shares during the period. Norinchukin Bank The increased its position in Microchip Technology by 13.2% in the second quarter. Norinchukin Bank The now owns 15,920 shares of the semiconductor company’s stock worth $1,229,000 after purchasing an additional 1,857 shares during the period. Finally, HPM Partners LLC increased its position in Microchip Technology by 76.3% in the second quarter. HPM Partners LLC now owns 17,185 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 7,437 shares during the period.

A number of analysts recently commented on MCHP shares. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Mizuho reiterated a “neutral” rating and issued a $84.00 price objective (up from $80.00) on shares of Microchip Technology in a research report on Wednesday, August 9th. B. Riley reiterated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Friday, September 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of Microchip Technology in a research report on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Microchip Technology has an average rating of “Buy” and a consensus price target of $99.41.

Microchip Technology Incorporated (NASDAQ:MCHP) opened at $86.31 on Thursday. Microchip Technology Incorporated has a 1-year low of $62.21 and a 1-year high of $95.92. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $20,164.98, a PE ratio of 18.26, a PEG ratio of 1.38 and a beta of 1.00.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the business posted $0.94 EPS. Microchip Technology’s revenue for the quarter was up 16.2% on a year-over-year basis. analysts forecast that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, November 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 58.00%.

In other news, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,801 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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