City Holding Co. Has $2.90 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

City Holding Co. trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,084 shares of the semiconductor company’s stock after selling 2,614 shares during the quarter. City Holding Co.’s holdings in Microchip Technology were worth $2,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MCHP. Vanguard Group Inc. boosted its holdings in Microchip Technology by 2.9% during the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after acquiring an additional 1,921,497 shares during the period. Principal Financial Group Inc. boosted its stake in Microchip Technology by 0.4% during the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after purchasing an additional 33,603 shares during the period. Boston Partners grew its holdings in Microchip Technology by 10.7% in the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after buying an additional 736,818 shares during the last quarter. Van ECK Associates Corp increased its position in Microchip Technology by 4.9% in the 2nd quarter. Van ECK Associates Corp now owns 6,363,937 shares of the semiconductor company’s stock worth $582,301,000 after buying an additional 295,626 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Microchip Technology by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock worth $406,182,000 after buying an additional 673,992 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCHP shares. Susquehanna lowered their price objective on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley cut shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $102.00 to $100.00 in a research note on Thursday, July 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Wednesday, July 31st. Finally, TD Cowen lowered their price target on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.47.

Microchip Technology Price Performance

Microchip Technology stock opened at $77.31 on Wednesday. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The firm has a market cap of $41.48 billion, a P/E ratio of 22.28 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The business’s fifty day moving average is $78.57 and its two-hundred day moving average is $86.85.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. Microchip Technology’s revenue was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 1.74 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.454 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.35%. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.07% of the company’s stock.

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.