Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by NBT Bank N A NY

NBT Bank N A NY lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,494 shares of the semiconductor company’s stock after selling 1,839 shares during the period. NBT Bank N A NY’s holdings in Microchip Technology were worth $2,093,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Microchip Technology in the 4th quarter worth about $29,000. Personal CFO Solutions LLC boosted its stake in Microchip Technology by 89.7% in the 4th quarter. Personal CFO Solutions LLC now owns 13,450 shares of the semiconductor company’s stock worth $771,000 after buying an additional 6,361 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in Microchip Technology by 31.3% in the 4th quarter. Lifeworks Advisors LLC now owns 27,096 shares of the semiconductor company’s stock worth $1,554,000 after buying an additional 6,458 shares during the last quarter. Larson Financial Group LLC boosted its stake in Microchip Technology by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 3,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 428 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Microchip Technology by 232.1% in the 4th quarter. Edgestream Partners L.P. now owns 124,125 shares of the semiconductor company’s stock worth $7,119,000 after buying an additional 86,748 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC raised their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Mizuho raised their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $53.45 on Tuesday. The company has a market cap of $28.75 billion, a P/E ratio of 95.45 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The business’s 50-day simple moving average is $56.90 and its 200 day simple moving average is $66.38.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.41%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

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.