Trust Co. of Vermont Cuts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Trust Co. of Vermont lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, December 3rd. Piper Sandler dropped their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Citigroup reduced their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Evercore ISI restated an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $57.97 on Monday. 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 company’s 50-day moving average price is $61.11 and its 200 day moving average price is $73.57. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. The stock has a market cap 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 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. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $1.54 earnings per share. The company’s quarterly revenue was down 48.4% on a year-over-year basis. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.32 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

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

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.