Trust Co. of Vermont Sells 276 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Trust Co. of Vermont reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,786 shares of the semiconductor company’s stock after selling 276 shares during the quarter. Trust Co. of Vermont’s holdings in Microchip Technology were worth $102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Microchip Technology in the 3rd quarter worth $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology in the third quarter worth about $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the third quarter worth about $34,000. Wolff Wiese Magana LLC boosted its position in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 218 shares in the last quarter. Finally, Hobbs Group Advisors LLC lifted its stake in shares of Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.2 %

Microchip Technology stock opened at $57.97 on Monday. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. The stock has a 50-day moving average price of $61.11 and a 200 day moving average price of $73.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 40.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was down 48.4% on a year-over-year basis. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.32 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is 127.27%.

Analyst Ratings Changes

A number of research firms have issued reports on MCHP. Stifel Nicolaus decreased their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities reissued a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Wednesday, November 6th. Susquehanna cut their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, December 3rd. Finally, Mizuho cut their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Microchip Technology 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.