O Shaughnessy Asset Management LLC Sells 10,139 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

O Shaughnessy Asset Management LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,411 shares of the semiconductor company's stock after selling 10,139 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Microchip Technology were worth $999,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC purchased a new stake in Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position 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 in the last quarter. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the fourth quarter worth about $29,000. Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter worth about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Trading Down 0.3 %

Microchip Technology stock traded down $0.10 during trading hours on Friday, reaching $38.71. 20,658,618 shares of the company's stock traded hands, compared to its average volume of 7,984,067. The firm's 50 day moving average is $52.13 and its 200-day moving average is $61.03. 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 firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 69.13 and a beta of 1.51. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $100.57.

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Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MCHP shares. The Goldman Sachs Group reduced their price target on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Mizuho raised their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $72.68.

Insider Buying and Selling

In related 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently 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.