Rakuten Securities Inc. Has $27,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Rakuten Securities Inc. boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 309.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 475 shares of the semiconductor company’s stock after buying an additional 359 shares during the period. Rakuten Securities Inc.’s holdings in Microchip Technology were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MCHP. Metis Global Partners LLC increased its position in Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares during the last quarter. Plato Investment Management Ltd increased its position in Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the last quarter. Apollon Wealth Management LLC increased its position in Microchip Technology by 0.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 26,475 shares of the semiconductor company’s stock worth $2,126,000 after purchasing an additional 218 shares during the last quarter. Empower Advisory Group LLC increased its position in Microchip Technology by 7.3% in the 3rd quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock worth $279,000 after purchasing an additional 237 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased 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 worth $878,000 after purchasing an additional 260 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 0.0 %

Shares of MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $56.59 and a 200-day simple moving average of $65.97. The stock has a market cap of $27.91 billion, a PE ratio of 92.66 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.51%. Microchip Technology’s payout ratio is presently 325.00%.

Insider Transactions at Microchip Technology

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

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research reports. KeyCorp dropped their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. TD Cowen upped their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group decreased their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.