Cozad Asset Management Inc. Sells 31,450 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cozad Asset Management Inc. decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 33.8% during the 4th quarter, according to its most recent 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 period. Cozad Asset Management Inc.'s holdings in Microchip Technology were worth $3,530,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MCHP. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 359 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Microchip Technology during the third quarter worth $29,000. OFI Invest Asset Management acquired a new position in Microchip Technology in the fourth quarter worth $29,000. Finally, Financial Life Planners acquired a new stake in Microchip Technology during the fourth quarter worth about $32,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

A number of research analysts recently commented on MCHP shares. StockNews.com downgraded Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Evercore ISI increased their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Rosenblatt Securities reissued a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Mizuho lifted their price target on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, B. Riley reissued a "buy" rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.37.

Microchip Technology Stock Up 1.4 %

Shares of MCHP traded up $0.72 during mid-day trading on Friday, hitting $51.72. 29,769,902 shares of the company's stock were exchanged, compared to its average volume of 6,999,170. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of 92.36 and a beta of 1.52. The firm has a fifty day moving average of $56.24 and a two-hundred day moving average of $65.03. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $50.02 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 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 forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend 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.