Mizuho Securities USA LLC Has $2.92 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Mizuho Securities USA LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 96.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,896 shares of the semiconductor company's stock after selling 1,483,893 shares during the quarter. Mizuho Securities USA LLC's holdings in Microchip Technology were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $34,000. Semanteon Capital Management LP acquired a new position in Microchip Technology during the fourth quarter worth $1,435,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Microchip Technology by 2.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 17,689 shares of the semiconductor company's stock valued at $1,014,000 after purchasing an additional 362 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $209,000. Finally, iA Global Asset Management Inc. increased its holdings in Microchip Technology by 5.8% during the 4th quarter. iA Global Asset Management Inc. now owns 57,881 shares of the semiconductor company's stock valued at $3,319,000 after purchasing an additional 3,191 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

MCHP has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price on Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. TD Cowen raised their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Needham & Company LLC increased their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler restated an "overweight" rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.37.

Microchip Technology Trading Down 2.3 %

Microchip Technology stock traded down $1.19 during midday trading on Thursday, hitting $50.98. 1,005,202 shares of the stock were exchanged, compared to its average volume of 7,027,208. Microchip Technology Incorporated has a 52 week low of $49.92 and a 52 week high of $100.57. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $27.42 billion, a PE ratio of 91.20 and a beta of 1.52. The company has a fifty day simple moving average of $55.94 and a two-hundred day simple moving average of $64.26.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 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 research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Microchip Technology 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.