Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 35.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,554 shares of the semiconductor company’s stock after buying an additional 8,843 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Microchip Technology were worth $1,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. one8zero8 LLC acquired a new position in Microchip Technology in the 4th quarter worth approximately $384,000. Vanguard Group Inc. increased its holdings in Microchip Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after buying an additional 569,699 shares during the period. Franklin Resources Inc. increased its holdings in Microchip Technology by 90.0% in the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company’s stock worth $364,792,000 after buying an additional 3,013,162 shares during the period. Jones Financial Companies Lllp increased its holdings in Microchip Technology by 15.7% in the 4th quarter. Jones Financial Companies Lllp now owns 16,418 shares of the semiconductor company’s stock worth $942,000 after buying an additional 2,226 shares during the period. Finally, Potomac Fund Management Inc. ADV acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $738,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Down 0.4%

NASDAQ MCHP opened at $70.49 on Friday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $96.98. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The business’s fifty day simple moving average is $58.73 and its 200-day simple moving average is $55.34. The firm has a market cap of $38.02 billion, a PE ratio of -7,049.00, a P/E/G ratio of 2.11 and a beta of 1.48.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The company’s quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.58%. Microchip Technology’s dividend payout ratio (DPR) is currently -18,200.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MCHP shares. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Raymond James Financial raised their price objective on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 9th. B. Riley raised their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Rosenblatt Securities raised their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, TD Cowen raised their price objective on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.15.

Insiders Place Their Bets

In other news, Director Karlton D. Johnson sold 494 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the transaction, the director now directly owns 3,468 shares of the company’s stock, valued at approximately $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the transaction, the chief financial officer now directly owns 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

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.