Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 20.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 999 shares of the semiconductor company’s stock after selling 250 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Microchip Technology were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Van ECK Associates Corp raised its position in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after buying an additional 776,408 shares during the period. Charles Schwab Investment Management Inc. grew its position in Microchip Technology by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after purchasing an additional 25,872 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Microchip Technology by 20.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after acquiring an additional 460,697 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.0 %

MCHP opened at $52.58 on Wednesday. The company has a market capitalization of $28.24 billion, a P/E ratio of 93.89 and a beta of 1.50. 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 firm’s fifty day moving average price is $57.35 and its two-hundred day moving average price is $69.49. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.46%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Citigroup lowered their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. TD Cowen cut their target price 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. 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 data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

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.