Cozad Asset Management Inc. Sells 24,485 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cozad Asset Management Inc. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,994 shares of the semiconductor company’s stock after selling 24,485 shares during the period. Cozad Asset Management Inc.’s holdings in Microchip Technology were worth $7,466,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of Microchip Technology by 23.9% in the 1st quarter. Norden Group LLC now owns 3,418 shares of the semiconductor company’s stock worth $307,000 after buying an additional 660 shares during the last quarter. Nordea Investment Management AB increased its position in Microchip Technology by 7.0% in the first quarter. Nordea Investment Management AB now owns 39,455 shares of the semiconductor company’s stock worth $3,539,000 after buying an additional 2,576 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Microchip Technology by 8.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 3,237 shares of the semiconductor company’s stock valued at $290,000 after buying an additional 246 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of Microchip Technology during the 1st quarter worth $85,000. Finally, Advisory Services Network LLC increased its holdings in Microchip Technology by 4.7% in the 1st quarter. Advisory Services Network LLC now owns 33,927 shares of the semiconductor company’s stock worth $3,044,000 after acquiring an additional 1,531 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Mizuho set a $95.00 target price on shares of Microchip Technology in a research note on Friday, October 18th. Susquehanna dropped their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday. Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $102.00 to $100.00 in a research report on Thursday, July 11th. JPMorgan Chase & Co. decreased their price target on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $73.75 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. Microchip Technology Incorporated has a 1 year low of $71.76 and a 1 year high of $100.57. The company’s 50-day moving average is $77.05 and its 200 day moving average is $85.12. The stock has a market capitalization of $39.57 billion, a P/E ratio of 51.57 and a beta of 1.53.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.47%. Microchip Technology’s dividend payout ratio is 126.57%.

About Microchip Technology

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.