Oribel Capital Management LP Makes New $33.53 Million Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Oribel Capital Management LP acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 584,600 shares of the semiconductor company’s stock, valued at approximately $33,527,000. Microchip Technology accounts for approximately 1.1% of Oribel Capital Management LP’s portfolio, making the stock its 14th biggest holding. Oribel Capital Management LP owned approximately 0.11% of Microchip Technology at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MCHP. Coldstream Capital Management Inc. raised its position in Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after purchasing an additional 260 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Microchip Technology by 1.8% during the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 264 shares during the period. Lebenthal Global Advisors LLC raised its holdings in shares of Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after acquiring an additional 266 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in Microchip Technology by 1.5% in the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company’s stock worth $1,179,000 after acquiring an additional 300 shares during the period. Finally, Perennial Investment Advisors LLC boosted its holdings in Microchip Technology by 6.5% in the fourth quarter. Perennial Investment Advisors LLC now owns 5,231 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 317 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Microchip Technology Stock Performance

MCHP stock opened at $36.22 on Friday. The stock has a market capitalization of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. The stock’s 50 day simple moving average is $54.29 and its 200 day simple moving average is $62.76. Microchip Technology Incorporated has a 12-month low of $36.10 and a 12-month high of $100.57. 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 (NASDAQ:MCHP) last released 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 net margin of 6.49% and a return on equity of 12.62%. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 5.02%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Analysts Set New Price Targets

Several research analysts have commented on MCHP shares. Needham & Company LLC upped their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. TD Cowen increased their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

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.