Oxford Asset Management LLP Acquires Shares of 14,667 Microchip Technology Incorporated (NASDAQ:MCHP)

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

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pallas Capital Advisors LLC purchased a new position in Microchip Technology during the 4th quarter valued at about $5,917,000. Consolidated Planning Corp purchased a new position in Microchip Technology during the fourth quarter valued at approximately $308,000. one8zero8 LLC acquired a new position in Microchip Technology in the 4th quarter valued at approximately $384,000. Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology in the 4th quarter worth approximately $520,000. Finally, Truist Financial Corp boosted its stake in shares of Microchip Technology by 5.8% during the 4th quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock valued at $55,024,000 after buying an additional 52,222 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MCHP shares. Mizuho upped their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Piper Sandler reiterated an "overweight" rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley dropped their price objective 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. Finally, Truist Financial reduced their target price on shares of Microchip Technology from $56.00 to $43.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Two investment 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.79.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction 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 sale, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP traded down $1.09 during trading hours on Tuesday, hitting $45.92. 8,287,173 shares of the company traded hands, compared to its average volume of 8,238,840. 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 twelve month low of $34.13 and a twelve month high of $100.57. The firm has a 50-day moving average of $49.15 and a 200 day moving average of $58.07. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 82.00 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates 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 forecast that Microchip Technology Incorporated will post 1.03 EPS 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. This represents a $1.82 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Monday, February 24th. Microchip Technology's payout ratio is presently 325.00%.

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.