Community Bank & Trust Waco Texas decreased its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 5.8% during the 4th quarter, Holdings Channel reports. The firm owned 47,070 shares of the semiconductor company’s stock after selling 2,897 shares during the period. Microchip Technology comprises about 1.8% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 12th biggest position. Community Bank & Trust Waco Texas’ holdings in Microchip Technology were worth $4,137,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Zions Bancorporation boosted its stake in shares of Microchip Technology by 215.5% during the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 836 shares during the period. Amica Retiree Medical Trust bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $121,000. Valeo Financial Advisors LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $146,000. Commonwealth Bank of Australia boosted its stake in shares of Microchip Technology by 1.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 29 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Microchip Technology by 608.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 1,807 shares during the period.

Several research analysts have recently commented on MCHP shares. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (up from $94.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research note on Tuesday, September 19th. Argus started coverage on Microchip Technology in a research note on Friday, October 6th. They set a “buy” rating and a $106.00 target price for the company. Jefferies Group reiterated a “buy” rating and set a $106.00 target price on shares of Microchip Technology in a research note on Thursday, October 19th. Finally, B. Riley reiterated a “buy” rating and set a $123.00 target price (up from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $101.24.

Microchip Technology Inc. (NASDAQ MCHP) traded up $1.59 on Wednesday, reaching $94.92. The company had a trading volume of 947,843 shares, compared to its average volume of 1,669,710. The company has a market cap of $22,060.00, a P/E ratio of 37.97, a PEG ratio of 1.23 and a beta of 1.00. Microchip Technology Inc. has a twelve month low of $64.68 and a twelve month high of $95.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. sell-side analysts predict that Microchip Technology Inc. will post 5.12 EPS for the current year.

In related news, VP Stephen V. Drehobl sold 2,852 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,801 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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About Microchip Technology

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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