Nomura Holdings Inc. Buys New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)

Nomura Holdings Inc. purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,914 shares of the semiconductor company’s stock, valued at approximately $984,000.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Microchip Technology in the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology in the fourth quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $29,000. Pineridge Advisors LLC bought a new stake in Microchip Technology during the 4th quarter valued at approximately $33,000. Finally, Operose Advisors LLC lifted its holdings in Microchip Technology by 79.3% in the 3rd quarter. Operose Advisors LLC now owns 502 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $89.02 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $100.57. The stock has a market cap of $47.79 billion, a PE ratio of 25.65 and a beta of 1.55. The company has a 50-day moving average price of $92.36 and a 200 day moving average price of $88.91.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The company’s revenue for the quarter was down 40.6% compared to the same quarter last year. Equities research analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.452 per share. This represents a $1.81 annualized dividend and a dividend yield of 2.03%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is 52.16%.

Insider Activity

In related news, VP Stephen V. Drehobl sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the sale, the vice president now directly owns 79,509 shares in the company, valued at approximately $7,558,125.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,993 shares of company stock valued at $2,251,857. 2.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Evercore ISI began coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Stifel Nicolaus lifted their target price on Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, KeyCorp increased their price target on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $101.06.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.