Indiana Trust & Investment Management Co Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Indiana Trust & Investment Management Co lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 999 shares of the semiconductor company’s stock after selling 250 shares during the period. Indiana Trust & Investment Management Co’s holdings in Microchip Technology were worth $57,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Prospera Private Wealth LLC purchased a new stake in shares of Microchip Technology in the third quarter valued at approximately $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. purchased a new position in Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the 3rd quarter valued at about $34,000. Finally, Wolff Wiese Magana LLC raised its position in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $52.58 on Wednesday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.24 billion, a P/E ratio of 93.89 and a beta of 1.50. The stock has a 50 day moving average of $57.35 and a 200-day moving average of $69.49.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 expect that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MCHP shares. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday. Rosenblatt Securities restated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group cut their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI reiterated an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.