Trust Co. of Oklahoma Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Trust Co. of Oklahoma lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 7.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,400 shares of the semiconductor company’s stock after purchasing an additional 494 shares during the period. Trust Co. of Oklahoma’s holdings in Microchip Technology were worth $664,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new position in Microchip Technology in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Microchip Technology in the first quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new position in Microchip Technology in the fourth quarter valued at approximately $29,000. Finally, Pineridge Advisors LLC acquired a new position in Microchip Technology in the fourth quarter valued at approximately $33,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on MCHP shares. Susquehanna upped their price objective on Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. The Goldman Sachs Group upped their price objective on Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. TD Cowen upped their price objective on Microchip Technology from $80.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Citigroup upped their price objective on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Needham & Company LLC upped their price target on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $101.06.

Insider Transactions at Microchip Technology

In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the transaction, the vice president now directly owns 79,509 shares in the company, valued at approximately $7,558,125.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,993 shares of company stock valued at $2,251,857. 2.07% of the stock is currently owned by company insiders.

Microchip Technology Stock Up 1.7 %

Shares of Microchip Technology stock traded up $1.52 during trading hours on Wednesday, reaching $93.58. 2,437,686 shares of the company were exchanged, compared to its average volume of 5,766,046. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The stock’s fifty day moving average is $93.30 and its 200 day moving average is $89.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The firm has a market cap of $50.24 billion, a PE ratio of 26.85 and a beta of 1.54.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The company’s revenue was down 40.6% on a year-over-year basis. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.452 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 52.16%.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.