Microchip Technology Inc. (MCHP) Shares Sold by Oakmont Corp

Oakmont Corp cut its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 513,185 shares of the semiconductor company’s stock after selling 2,625 shares during the period. Microchip Technology makes up approximately 6.6% of Oakmont Corp’s investment portfolio, making the stock its 9th largest position. Oakmont Corp’s holdings in Microchip Technology were worth $45,099,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCHP. Wealth Advisors of Tampa Bay LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $4,186,000. Evermay Wealth Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $327,000. NuWave Investment Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $318,000. Oppenheimer & Co. Inc. grew its stake in Microchip Technology by 6.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 22,507 shares of the semiconductor company’s stock worth $1,978,000 after buying an additional 1,285 shares in the last quarter. Finally, Swiss National Bank grew its stake in Microchip Technology by 1.4% during the fourth quarter. Swiss National Bank now owns 857,309 shares of the semiconductor company’s stock worth $75,340,000 after buying an additional 11,600 shares in the last quarter.

A number of brokerages have issued reports on MCHP. Morgan Stanley reduced their price objective on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Piper Jaffray Companies began coverage on shares of Microchip Technology in a research note on Monday, December 18th. They issued an “overweight” rating and a $100.00 price target on the stock. Needham & Company LLC raised their price target on shares of Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Friday, January 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (up from $94.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Microchip Technology has a consensus rating of “Buy” and a consensus price target of $102.35.

In related news, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Microchip Technology Inc. (NASDAQ MCHP) opened at $81.04 on Monday. The stock has a market cap of $18,991.17, a P/E ratio of 83.55, a P/E/G ratio of 1.08 and a beta of 1.05. Microchip Technology Inc. has a fifty-two week low of $69.76 and a fifty-two week high of $99.17. The company has a quick ratio of 2.33, a current ratio of 2.98 and a debt-to-equity ratio of 0.95.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The business had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. equities analysts expect that Microchip Technology Inc. will post 5.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be issued a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 149.49%.

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Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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