Stock Yards Bank & Trust Co. Has $1.04 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Stock Yards Bank & Trust Co. decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,501 shares of the semiconductor company’s stock after selling 873 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Microchip Technology were worth $1,037,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in Microchip Technology during the 4th quarter worth $14,944,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Microchip Technology in the fourth quarter valued at about $242,000. Cetera Trust Company N.A acquired a new stake in Microchip Technology in the 4th quarter worth about $2,661,000. Handelsbanken Fonder AB grew its position in shares of Microchip Technology by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 226,605 shares of the semiconductor company’s stock worth $20,435,000 after purchasing an additional 19,228 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Microchip Technology during the fourth quarter worth approximately $48,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction 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 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 is accessible through this hyperlink. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction 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 of the company’s stock, valued at $150,276. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $86.19 on Wednesday. The business has a 50-day moving average of $86.61 and a 200-day moving average of $84.46. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.55 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $1.48 earnings per share. Microchip Technology’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is presently 42.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCHP shares. Evercore ISI assumed coverage on Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target on the stock. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. Piper Sandler cut Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 30th. Finally, Truist Financial dropped their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Profile

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.