Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by NBT Bank N A NY

NBT Bank N A NY reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,092 shares of the semiconductor company’s stock after selling 2,303 shares during the period. NBT Bank N A NY’s holdings in Microchip Technology were worth $2,816,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its position in Microchip Technology by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 4,215 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 134 shares during the period. Carl P. Sherr & Co. LLC lifted its stake in shares of Microchip Technology by 1.2% during the third quarter. Carl P. Sherr & Co. LLC now owns 12,299 shares of the semiconductor company’s stock valued at $751,000 after acquiring an additional 140 shares during the period. Cascade Investment Advisors Inc. lifted its stake in shares of Microchip Technology by 0.6% during the fourth quarter. Cascade Investment Advisors Inc. now owns 23,555 shares of the semiconductor company’s stock valued at $1,655,000 after acquiring an additional 140 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Microchip Technology by 1.5% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 9,679 shares of the semiconductor company’s stock valued at $680,000 after acquiring an additional 143 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Microchip Technology by 8.7% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,819 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 145 shares during the period. 89.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,470 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $78.32, for a total transaction of $193,450.40. Following the completion of the transaction, the chief financial officer now directly owns 32,004 shares of the company’s stock, valued at $2,506,553.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Microchip Technology Stock Up 5.4 %

Shares of NASDAQ:MCHP traded up $4.04 during mid-day trading on Friday, reaching $78.18. 3,151,025 shares of the stock were exchanged, compared to its average volume of 4,758,148. The company has a quick ratio of 0.56, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market cap of $42.83 billion, a P/E ratio of 19.41, a P/E/G ratio of 0.74 and a beta of 1.58. Microchip Technology Incorporated has a one year low of $54.33 and a one year high of $87.76. The stock’s 50 day simple moving average is $77.82 and its 200-day simple moving average is $77.18.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Monday, May 22nd will be issued a dividend of $0.383 per share. The ex-dividend date of this dividend is Friday, May 19th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.53 dividend on an annualized basis and a dividend yield of 1.96%. Microchip Technology’s dividend payout ratio (DPR) is presently 38.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCHP shares. KeyCorp upped their price target on Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Mizuho upped their price target on Microchip Technology from $72.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Citigroup dropped their price objective on Microchip Technology from $85.00 to $76.00 in a report on Friday, May 5th. The Goldman Sachs Group upped their price objective on Microchip Technology from $76.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, February 6th. Finally, Stifel Nicolaus dropped their price objective on Microchip Technology from $100.00 to $95.00 in a report on Friday, May 5th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.11.

Microchip Technology Profile

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Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.