Oxford Asset Management LLP Takes $841,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Oxford Asset Management LLP bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,667 shares of the semiconductor company's stock, valued at approximately $841,000.

Several other hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. grew its stake in Microchip Technology by 309.5% in the fourth 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 period. OFI Invest Asset Management purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $29,000. Financial Life Planners purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology during the fourth quarter worth $34,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Up 1.1 %

Shares of MCHP traded up $0.51 on Thursday, reaching $46.59. 3,528,818 shares of the company's stock were exchanged, compared to its average volume of 8,240,539. The business has a 50 day moving average price of $48.49 and a two-hundred day moving average price of $57.91. 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 Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The stock has a market capitalization of $25.06 billion, a P/E ratio of 83.17 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.62% and a net margin of 6.49%. Research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.91%. Microchip Technology's dividend payout ratio is 325.00%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Citigroup decreased their price target on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Stifel Nicolaus cut their price target on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Rosenblatt Securities restated a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of "Moderate Buy" and an average price target of $66.79.

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.