Community Bank & Trust Waco Texas Acquires 427 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Community Bank & Trust Waco Texas lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,756 shares of the semiconductor company’s stock after acquiring an additional 427 shares during the period. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $4,798,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology during the first quarter worth $39,000. Versant Capital Management Inc lifted its stake in shares of Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 317 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in Microchip Technology during the second quarter worth $55,000. Finally, Family Firm Inc. bought a new position in shares of Microchip Technology during the second quarter valued at about $62,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCHP. Piper Sandler decreased their target price on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. KeyCorp lowered their target price on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Citigroup reduced their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, TD Cowen dropped their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Stock Down 3.7 %

Microchip Technology stock opened at $67.30 on Wednesday. The stock’s 50 day moving average price is $76.49 and its 200 day moving average price is $84.77. Microchip Technology Incorporated has a 1-year low of $66.08 and a 1-year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company has a market cap of $36.14 billion, a PE ratio of 47.06 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. The company’s revenue was down 48.4% on a year-over-year basis. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.455 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

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.