Security National Bank Sells 140 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)


Share on StockTwits

Security National Bank lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,179 shares of the semiconductor company’s stock after selling 140 shares during the period. Security National Bank’s holdings in Microchip Technology were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Resonant Capital Advisors LLC grew its position in Microchip Technology by 3.0% in the fourth quarter. Resonant Capital Advisors LLC now owns 2,544 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 75 shares during the last quarter. Duncker Streett & Co. Inc. grew its position in Microchip Technology by 5.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 1,581 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 75 shares during the last quarter. IHT Wealth Management LLC grew its position in Microchip Technology by 3.8% in the third quarter. IHT Wealth Management LLC now owns 2,314 shares of the semiconductor company’s stock valued at $238,000 after acquiring an additional 85 shares during the last quarter. First Foundation Advisors grew its holdings in shares of Microchip Technology by 3.2% during the fourth quarter. First Foundation Advisors now owns 2,774 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 86 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Microchip Technology by 4.0% during the fourth quarter. Private Trust Co. NA now owns 2,700 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.

Several analysts have recently weighed in on MCHP shares. Raymond James boosted their price target on Microchip Technology from $140.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 19th. Morgan Stanley lifted their price objective on Microchip Technology from $159.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Credit Suisse Group lifted their price objective on Microchip Technology from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, February 5th. Mizuho lifted their price objective on Microchip Technology from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. Finally, Longbow Research raised Microchip Technology from a “neutral” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Monday, March 29th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $147.44.

Shares of NASDAQ MCHP traded down $0.55 during midday trading on Thursday, hitting $159.16. 11,914 shares of the stock traded hands, compared to its average volume of 2,237,545. The business has a 50 day moving average price of $152.53 and a two-hundred day moving average price of $135.58. Microchip Technology Incorporated has a one year low of $74.39 and a one year high of $166.67. The company has a market cap of $42.86 billion, a PE ratio of 68.25, a P/E/G ratio of 1.74 and a beta of 1.69. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.74 and a current ratio of 1.07.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 4th. The semiconductor company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.17. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.35 billion. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 5.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 8th. Investors of record on Monday, February 22nd were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 19th. This represents a $1.56 annualized dividend and a yield of 0.98%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio is 30.12%.

In other Microchip Technology news, Director Matthew W. Chapman sold 500 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total value of $79,600.00. Following the completion of the transaction, the director now owns 18,856 shares in the company, valued at approximately $3,001,875.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,433 shares of the company’s stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $159.20, for a total value of $228,133.60. Insiders have sold 5,586 shares of company stock valued at $889,291 in the last quarter. 2.15% of the stock is currently owned by corporate insiders.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

Read More: What Is Dividend Yield and How Do You Calculate It?

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP).

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

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.