Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lifted by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,517 shares of the semiconductor company’s stock after acquiring an additional 368 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Microchip Technology were worth $925,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Microchip Technology in the 3rd quarter worth about $3,312,000. Benjamin Edwards Inc. boosted its holdings in shares of Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after buying an additional 9,230 shares during the period. Empowered Funds LLC increased its position in shares of Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after acquiring an additional 19,663 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Microchip Technology by 52.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 24,713 shares of the semiconductor company’s stock valued at $1,984,000 after acquiring an additional 8,467 shares during the period. Finally, Harvey Partners LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $20,554,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCHP. TD Cowen lowered their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Microchip Technology in a report on Tuesday, December 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Wednesday, November 6th. Susquehanna lowered their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus dropped their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.95.

Microchip Technology Price Performance

Shares of MCHP stock opened at $61.50 on Friday. The stock’s fifty day simple moving average is $71.16 and its 200 day simple moving average is $80.44. Microchip Technology Incorporated has a one year low of $57.96 and a one year high of $100.57. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 43.01 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.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 EPS. On average, analysts expect that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.455 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.96%. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Microchip Technology Company Profile

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.