Global X Japan Co. Ltd. Sells 7,280 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Global X Japan Co. Ltd. trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,233 shares of the semiconductor company’s stock after selling 7,280 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Microchip Technology were worth $2,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corundum Group Inc. grew its stake in shares of Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management raised its holdings in shares of Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Microchip Technology by 11.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 162 shares in the last quarter. Metis Global Partners LLC boosted its position in Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after acquiring an additional 172 shares during the last quarter. Finally, Americana Partners LLC boosted its holdings in shares of Microchip Technology by 5.5% during the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 179 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Microchip Technology stock opened at $53.11 on Friday. The firm’s 50 day simple moving average is $58.34 and its 200-day simple moving average is $70.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a fifty-two week low of $51.37 and a fifty-two week high of $100.57. The company has a market cap of $28.52 billion, a P/E ratio of 37.14 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.43%. Microchip Technology’s dividend payout ratio is currently 127.27%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, December 3rd. Evercore ISI reiterated an “outperform” rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Mizuho cut their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $81.67.

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.