O Shaughnessy Asset Management LLC Purchases 14,983 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

O Shaughnessy Asset Management LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 110.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 28,575 shares of the semiconductor company’s stock after acquiring an additional 14,983 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Microchip Technology were worth $2,007,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $40,000. Corrado Advisors LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $302,000. Shelton Wealth Management LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $214,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Microchip Technology by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 334,401 shares of the semiconductor company’s stock worth $23,492,000 after purchasing an additional 27,931 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Microchip Technology by 2.3% during the 4th quarter. Blair William & Co. IL now owns 1,050,112 shares of the semiconductor company’s stock worth $73,770,000 after purchasing an additional 23,122 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $74.14 on Friday. The firm has a market cap of $40.61 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.58. Microchip Technology Incorporated has a 52-week low of $54.33 and a 52-week high of $87.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.98. The business’s fifty day moving average is $77.82 and its 200-day moving average is $77.18.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 5th. Stockholders of record on Monday, May 22nd will be issued a dividend of $0.383 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.53 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, May 19th. Microchip Technology’s dividend payout ratio is 38.15%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,470 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $78.32, for a total transaction of $193,450.40. Following the sale, the chief financial officer now directly owns 32,004 shares of the company’s stock, valued at approximately $2,506,553.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCHP. Raymond James upped their price objective on Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 3rd. B. Riley increased their price target on Microchip Technology from $86.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. TD Cowen dropped their price target on Microchip Technology from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Friday, May 5th. Morgan Stanley increased their price target on Microchip Technology from $80.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, Stifel Nicolaus dropped their price target on Microchip Technology from $100.00 to $95.00 in a research note on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $90.11.

Microchip Technology Company Profile

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Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.