Community Bank & Trust Waco Texas Has $5.01 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Community Bank & Trust Waco Texas reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,546 shares of the semiconductor company’s stock after selling 1,114 shares during the quarter. Microchip Technology accounts for 1.4% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 29th largest position. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $5,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC boosted its holdings in shares of Microchip Technology by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock worth $849,000 after purchasing an additional 119 shares in the last quarter. RFG Advisory LLC boosted its stake in Microchip Technology by 3.2% during the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 123 shares during the last quarter. Twelve Points Wealth Management LLC increased its holdings in Microchip Technology by 1.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock worth $1,103,000 after buying an additional 125 shares in the last quarter. Merit Financial Group LLC grew its position in Microchip Technology by 1.9% in the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock worth $554,000 after purchasing an additional 134 shares during the period. Finally, Financial Advocates Investment Management raised its stake in Microchip Technology by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 142 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial decreased their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, January 18th. Susquehanna reiterated a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 30th. Finally, Evercore ISI initiated coverage on Microchip Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price target for the company. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Trading Up 4.2 %

MCHP traded up $3.66 during trading on Wednesday, hitting $89.85. 2,164,272 shares of the stock were exchanged, compared to its average volume of 5,484,667. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The firm has a market cap of $48.55 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.55 and a beta of 1.65. The firm has a 50 day simple moving average of $86.61 and a 200 day simple moving average of $84.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $1.48 EPS. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. As a group, equities analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is presently 42.06%.

About Microchip Technology

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.