Trust Co. of Vermont Decreases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Trust Co. of Vermont decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 46.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,042 shares of the semiconductor company’s stock after selling 897 shares during the period. Trust Co. of Vermont’s holdings in Microchip Technology were worth $94,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCHP. ICA Group Wealth Management LLC acquired a new position in shares of Microchip Technology in the fourth quarter worth about $98,000. SageView Advisory Group LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $245,000. Fisher Asset Management LLC boosted its stake in shares of Microchip Technology by 3,353.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,521 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 2,448 shares during the last quarter. Tucker Asset Management LLC grew its position in shares of Microchip Technology by 16.2% during the fourth quarter. Tucker Asset Management LLC now owns 2,445 shares of the semiconductor company’s stock worth $220,000 after buying an additional 341 shares in the last quarter. Finally, Northwest Bank & Trust Co bought a new stake in shares of Microchip Technology in the fourth quarter worth $593,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Susquehanna boosted their price target on Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Citigroup raised their price objective on Microchip Technology from $100.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Mizuho upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $115.00 in a research note on Friday, May 24th. Finally, TD Cowen raised their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.06.

Insider Activity

In related news, VP Stephen V. Drehobl sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 3,188 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total transaction of $318,736.24. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $3,325,034.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,993 shares of company stock worth $2,251,857. 2.07% of the stock is owned by company insiders.

Microchip Technology Price Performance

Shares of MCHP opened at $91.02 on Tuesday. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The stock’s fifty day moving average is $92.23 and its 200-day moving average is $88.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The firm has a market capitalization of $48.87 billion, a price-to-earnings ratio of 26.23 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. Microchip Technology’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 2.35 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.452 per share. The ex-dividend date was Tuesday, May 21st. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a dividend yield of 1.99%. Microchip Technology’s dividend payout ratio (DPR) is 52.16%.

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.