Community Bank & Trust Waco Texas Sells 1,114 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Community Bank & Trust Waco Texas trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 55,546 shares of the semiconductor company’s stock after selling 1,114 shares during the quarter. Microchip Technology accounts for approximately 1.4% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 29th largest position. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $5,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Microchip Technology by 1.1% during the third quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock valued at $587,046,000 after buying an additional 80,431 shares during the period. Van ECK Associates Corp increased its position in Microchip Technology by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock valued at $348,309,000 after purchasing an additional 322,540 shares during the period. Mizuho Markets Americas LLC bought a new position in Microchip Technology in the 3rd quarter worth $225,800,000. Charles Schwab Investment Management Inc. lifted its position in shares of Microchip Technology by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,830,397 shares of the semiconductor company’s stock worth $220,913,000 after purchasing an additional 25,002 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Microchip Technology by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company’s stock worth $221,586,000 after purchasing an additional 11,163 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock traded up $3.66 during midday trading on Wednesday, reaching $89.85. 2,164,272 shares of the company traded hands, compared to its average volume of 5,484,667. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.30. The firm has a market capitalization of $48.55 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.65. The business has a 50 day moving average of $86.61 and a two-hundred day moving average of $84.46.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. During the same period in the prior year, the firm earned $1.48 EPS. The company’s revenue was down 18.6% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of research reports. Stifel Nicolaus increased their price target on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Susquehanna restated a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. TD Cowen increased their price objective on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. UBS Group dropped their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.