Cozad Asset Management Inc. Has $7.47 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Cozad Asset Management Inc. cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,994 shares of the semiconductor company's stock after selling 24,485 shares during the period. Cozad Asset Management Inc.'s holdings in Microchip Technology were worth $7,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC grew its stake in shares of Microchip Technology by 23.9% in the first quarter. Norden Group LLC now owns 3,418 shares of the semiconductor company's stock valued at $307,000 after buying an additional 660 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Microchip Technology by 7.0% in the 1st quarter. Nordea Investment Management AB now owns 39,455 shares of the semiconductor company's stock valued at $3,539,000 after acquiring an additional 2,576 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Microchip Technology by 8.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 3,237 shares of the semiconductor company's stock worth $290,000 after purchasing an additional 246 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Microchip Technology in the 1st quarter valued at about $85,000. Finally, Advisory Services Network LLC raised its holdings in shares of Microchip Technology by 4.7% in the 1st quarter. Advisory Services Network LLC now owns 33,927 shares of the semiconductor company's stock valued at $3,044,000 after purchasing an additional 1,531 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCHP shares. Needham & Company LLC decreased their target price on Microchip Technology from $96.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday. TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a research note on Wednesday. Piper Sandler reduced their target price on shares of Microchip Technology from $100.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Morgan Stanley cut shares of Microchip Technology from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $102.00 to $100.00 in a report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Microchip Technology Price Performance

NASDAQ MCHP traded up $0.65 during trading on Thursday, hitting $74.40. 3,400,414 shares of the company's stock were exchanged, compared to its average volume of 5,948,561. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The company has a market cap of $39.92 billion, a PE ratio of 51.57 and a beta of 1.53. Microchip Technology Incorporated has a fifty-two week low of $71.76 and a fifty-two week high of $100.57. The stock's 50 day moving average price is $77.05 and its two-hundred day moving average price is $85.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The firm's revenue was down 48.4% compared to the same quarter last year. Research analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.45%. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's dividend payout ratio is currently 126.57%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 2,154 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares of the company's stock, valued at $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

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.