Oppenheimer Asset Management Inc. Has $1.42 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Oppenheimer Asset Management Inc. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 87.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other large investors also recently added to or reduced their stakes in MCHP. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Microchip Technology by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 210,900 shares of the semiconductor company’s stock valued at $12,095,000 after purchasing an additional 3,500 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Microchip Technology by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 72,109 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 596 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Microchip Technology during the fourth quarter valued at about $68,000. Richard Bernstein Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth about $2,146,000. Finally, JFG Wealth Management LLC acquired a new position in shares of Microchip Technology during the 4th quarter valued at about $388,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Trading Down 1.5 %

Shares of Microchip Technology stock 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 current ratio of 2.25 and a quick ratio of 1.23. The firm has a market capitalization of $31.17 billion, a PE ratio of 103.48 and a beta of 1.50. The company’s fifty day moving average price is $56.94 and its two-hundred day moving average price is $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 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 year.

Microchip Technology Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on MCHP. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Needham & Company LLC decreased their price target on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have issued 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, Microchip Technology presently has an average rating of “Moderate Buy” and an average target price of $77.11.

Insider Buying and Selling at Microchip Technology

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

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.