Nemes Rush Group LLC Has $1.46 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Nemes Rush Group LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,483 shares of the semiconductor company’s stock after selling 2,831 shares during the period. Nemes Rush Group LLC’s holdings in Microchip Technology were worth $1,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MCHP. Mainstream Capital Management LLC acquired a new position in Microchip Technology during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $29,000. Financial Life Planners bought a new stake in Microchip Technology during the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $48.41 on Tuesday. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 86.45 and a beta of 1.52. The company’s fifty day moving average price is $55.46 and its two-hundred day moving average price is $63.61. Microchip Technology Incorporated has a 1-year low of $47.44 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.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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 net margin of 6.49% and a return on equity of 12.62%. On average, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stifel Nicolaus reduced 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. KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company 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 report on Tuesday, March 4th. Evercore ISI raised their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Buying and Selling

In related 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 transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Microchip Technology 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.