Community Bank & Trust Waco Texas Purchases 4,094 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Community Bank & Trust Waco Texas raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,329 shares of the semiconductor company’s stock after acquiring an additional 4,094 shares during the quarter. Microchip Technology comprises 1.3% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 27th biggest holding. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $5,429,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Swedbank AB bought a new position in Microchip Technology during the first quarter worth $1,079,000. Caxton Associates LP grew its stake in shares of Microchip Technology by 4,511.5% in the 4th quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock valued at $36,072,000 after buying an additional 391,326 shares during the period. SageView Advisory Group LLC increased its position in Microchip Technology by 507.5% in the 1st quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock valued at $1,553,000 after buying an additional 14,458 shares in the last quarter. RFG Advisory LLC raised its stake in Microchip Technology by 228.4% during the 1st quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock worth $1,152,000 after buying an additional 8,931 shares during the period. Finally, Hennessy Advisors Inc. boosted its holdings in Microchip Technology by 2,194.5% in the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock worth $3,001,000 after acquiring an additional 31,996 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley downgraded shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $102.00 to $100.00 in a research report on Thursday, July 11th. The Goldman Sachs Group upped their target price on shares of Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. KeyCorp lifted their price target on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. decreased their price target on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $99.95.

Microchip Technology Trading Up 0.9 %

Shares of Microchip Technology stock traded up $0.71 during trading on Wednesday, reaching $77.11. 982,286 shares of the stock were exchanged, compared to its average volume of 5,979,579. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The firm has a market cap of $41.37 billion, a price-to-earnings ratio of 22.02 and a beta of 1.54. 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’s fifty day moving average is $85.24 and its 200 day moving average is $88.43.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $1.56 EPS. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.74 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.454 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 52.16%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

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.