SBI Securities Co. Ltd. Buys New Position in Microchip Technology Incorporated (NASDAQ:MCHP)

SBI Securities Co. Ltd. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 883 shares of the semiconductor company’s stock, valued at approximately $51,000.

A number of other institutional investors also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in Microchip Technology during the third quarter worth approximately $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the fourth quarter valued at $32,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology during the third quarter worth about $34,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology in the fourth quarter worth about $34,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $53.45 on Tuesday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock’s 50-day moving average is $56.90 and its two-hundred day moving average is $66.38. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market cap of $28.75 billion, a P/E ratio of 95.45 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) 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 return on equity of 12.62% and a net margin of 6.49%. Analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share 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 $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Insider Buying and Selling

In other 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 completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCHP has been the topic of several recent research reports. 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 note on Tuesday, March 4th. Stifel Nicolaus dropped their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Evercore ISI raised their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Morgan Stanley decreased their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group reduced their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.