Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Increased by Trust Co of Kansas

Trust Co of Kansas grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,124 shares of the semiconductor company’s stock after acquiring an additional 4,164 shares during the period. Microchip Technology comprises 3.6% of Trust Co of Kansas’ holdings, making the stock its 10th biggest position. Trust Co of Kansas’ holdings in Microchip Technology were worth $7,477,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Financial Counselors Inc. raised its position in Microchip Technology by 1.1% during the first quarter. Financial Counselors Inc. now owns 10,689 shares of the semiconductor company’s stock worth $959,000 after acquiring an additional 119 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock valued at $379,000 after buying an additional 131 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Microchip Technology by 11.8% in the first quarter. Horizon Bancorp Inc. IN now owns 1,370 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 145 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Microchip Technology by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after buying an additional 148 shares during the last quarter. Finally, Steph & Co. raised its position in shares of Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 151 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCHP has been the subject of a number of recent research reports. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Wednesday, July 31st. Bank of America lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $90.00 in a report on Friday, August 2nd. B. Riley dropped their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen dropped their price objective on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $99.47.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.07% of the stock is currently owned by company insiders.

Microchip Technology Stock Up 1.1 %

NASDAQ MCHP opened at $77.31 on Wednesday. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. The stock has a market cap of $41.48 billion, a PE ratio of 22.28 and a beta of 1.52. The business has a 50 day moving average price of $78.57 and a two-hundred day moving average price of $86.85.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.56 earnings per share. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current fiscal year.

Microchip Technology Increases Dividend

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

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.