First National Bank of Omaha reduced its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 79.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,250 shares of the semiconductor company’s stock after selling 175,924 shares during the quarter. First National Bank of Omaha’s holdings in Microchip Technology were worth $2,012,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MCHP. IMS Capital Management bought a new position in Microchip Technology in the 3rd quarter valued at about $62,000. Webster Bank N. A. grew its position in Microchip Technology by 19.3% in the 4th quarter. Webster Bank N. A. now owns 864 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 140 shares in the last quarter. CKW Financial Group lifted its holdings in Microchip Technology by 100.0% in the 4th quarter. CKW Financial Group now owns 1,000 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 500 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Microchip Technology in the 3rd quarter valued at about $116,000. Finally, Spirit of America Management Corp NY lifted its holdings in Microchip Technology by 95.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 2,050 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 1,000 shares during the last quarter.
In other news, VP Mitchell R. Little sold 3,585 shares of Microchip Technology stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $91.17, for a total transaction of $326,844.45. Following the transaction, the vice president now owns 7,693 shares in the company, valued at approximately $701,370.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,866 shares of Microchip Technology stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $72.06, for a total value of $134,463.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,722 shares of company stock valued at $769,077 over the last 90 days. Corporate insiders own 2.13% of the company’s stock.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.21. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The company’s revenue was up 42.5% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. As a group, sell-side analysts predict that Microchip Technology Inc. will post 5.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st will be given a dividend of $0.365 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, February 20th. Microchip Technology’s payout ratio is presently 28.13%.
MCHP has been the subject of a number of analyst reports. BidaskClub raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Needham & Company LLC reduced their price objective on shares of Microchip Technology to $100.00 and set a “strong-buy” rating for the company in a research note on Friday, October 26th. Nomura set a $95.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research report on Thursday, November 8th. Jefferies Financial Group reduced their price target on shares of Microchip Technology from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Finally, BMO Capital Markets started coverage on Microchip Technology in a report on Monday, November 12th. They issued an “outperform” rating and a $92.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $103.95.
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Microchip Technology Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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