Ossiam Increases Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Ossiam grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 138.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,233 shares of the semiconductor company's stock after purchasing an additional 23,971 shares during the period. Ossiam's holdings in Microchip Technology were worth $2,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its stake in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology in the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Microchip Technology in the fourth quarter worth approximately $34,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Microchip Technology Stock Performance

MCHP traded up $5.19 during midday trading on Thursday, hitting $47.12. 20,409,196 shares of the company traded hands, compared to its average volume of 8,219,019. The company's 50-day moving average is $49.88 and its 200 day moving average is $58.97. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $25.34 billion, a PE ratio of 84.14 and a beta of 1.51. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.86%. Microchip Technology's payout ratio is 325.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Raymond James restated a "strong-buy" rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, KeyCorp decreased their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.32.

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.