Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,190 shares of the semiconductor company’s stock after selling 1,566 shares during the period. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $3,337,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Microchip Technology by 25.1% during the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares during the period. Franklin Resources Inc. lifted its position in Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Microchip Technology by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock valued at $243,034,000 after purchasing an additional 25,872 shares during the period. Assenagon Asset Management S.A. lifted its position in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MCHP. The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. B. Riley restated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday. TD Cowen reduced their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Citigroup dropped their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Trading Up 0.3 %

Shares of MCHP opened at $52.05 on Tuesday. The stock has a market cap of $27.95 billion, a price-to-earnings ratio of 92.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The firm has a 50 day simple moving average of $57.71 and a 200-day simple moving average of $69.72.

Microchip Technology (NASDAQ:MCHP) last released its earnings results 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 return on equity of 12.41% and a net margin of 6.49%. Equities analysts forecast that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.50%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

About Microchip Technology

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.