Whittier Trust Co. of Nevada Inc. Has $1.01 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 17,689 shares of the semiconductor company’s stock after acquiring an additional 362 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Microchip Technology were worth $1,014,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCHP. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its position in shares of Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the third quarter worth about $29,000. OFI Invest Asset Management bought a new position in shares of Microchip Technology during the fourth quarter worth about $29,000. Finally, Financial Life Planners bought a new position in shares of Microchip Technology during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of research reports. TD Cowen increased their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Stifel Nicolaus decreased their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $51.72 on Friday. The stock has a market cap of $27.82 billion, a P/E ratio of 92.36 and a beta of 1.52. The stock has a 50 day simple moving average of $56.17 and a 200 day simple moving average of $64.74. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 1-year low of $49.92 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.52%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Company 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.