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

Mizuho Securities USA LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 96.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 50,896 shares of the semiconductor company’s stock after selling 1,483,893 shares during the period. Mizuho Securities USA LLC’s holdings in Microchip Technology were worth $2,919,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its position in Microchip Technology by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 260 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Microchip Technology by 1.8% in the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after purchasing an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 266 shares in the last quarter. First Commonwealth Financial Corp PA boosted its holdings in Microchip Technology by 2.5% during the third quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company’s stock worth $911,000 after purchasing an additional 279 shares during the last quarter. Finally, Elmwood Wealth Management Inc. grew its position in Microchip Technology by 1.5% in the 4th quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company’s stock worth $1,179,000 after purchasing an additional 300 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $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 can be accessed through this link. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Up 4.2 %

MCHP stock opened at $53.89 on Tuesday. Microchip Technology Incorporated has a twelve month low of $49.92 and a twelve month high of $100.57. The firm has a market capitalization of $28.98 billion, a PE ratio of 96.23 and a beta of 1.52. 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 50-day simple moving average of $56.13 and a two-hundred day simple moving average of $64.49.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCHP. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. KeyCorp reduced their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lifted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.37.

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.