Trust Co. of Toledo NA OH Has $4.53 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Trust Co. of Toledo NA OH decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,010 shares of the semiconductor company’s stock after selling 3,304 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Microchip Technology were worth $4,531,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Corundum Group Inc. lifted its position in Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after acquiring an additional 143 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after purchasing an additional 158 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of Microchip Technology by 11.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock worth $127,000 after buying an additional 162 shares during the period. Metis Global Partners LLC grew its holdings in shares of Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after buying an additional 172 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Microchip Technology by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 6,351 shares of the semiconductor company’s stock valued at $581,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Citigroup lowered their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. 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. TD Cowen decreased their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $87.11.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $0.22 during mid-day trading on Monday, reaching $55.41. 1,289,400 shares of the company’s stock were exchanged, compared to its average volume of 6,799,835. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a market capitalization of $29.76 billion, a PE ratio of 38.75 and a beta of 1.52. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The business’s fifty day simple moving average is $62.84 and its two-hundred day simple moving average is $74.80.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results 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. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. Analysts anticipate that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed 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 is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 3.28%. Microchip Technology’s dividend payout ratio is currently 127.27%.

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.