Microchip Technology Incorporated (NASDAQ:MCHP) Stake Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 87.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,711 shares of the semiconductor company’s stock after selling 166,489 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Microchip Technology were worth $1,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Metis Global Partners LLC boosted its position in Microchip Technology by 1.0% during the 3rd 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 period. Plato Investment Management Ltd raised its stake in shares of Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 191 shares in the last quarter. Summit Global Investments lifted its holdings in Microchip Technology by 2.5% in the third quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock worth $679,000 after purchasing an additional 207 shares during the period. Apollon Wealth Management LLC grew 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 valued at $2,126,000 after buying an additional 218 shares in the last quarter. Finally, Empower Advisory Group LLC increased its stake in Microchip Technology by 7.3% during the 3rd quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 237 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCHP shares. Citigroup reduced their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Susquehanna cut their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Needham & Company LLC lowered their target price on Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Two research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Insider Activity

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 transaction of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Stock Down 1.5 %

Shares of NASDAQ:MCHP opened at $57.95 on Tuesday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market cap of $31.17 billion, a PE ratio of 103.48 and a beta of 1.50. The firm has a 50 day simple moving average of $56.94 and a 200 day simple moving average of $67.20.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.14%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.