Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Hills Bank & Trust Co

Hills Bank & Trust Co raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,789 shares of the semiconductor company’s stock after purchasing an additional 413 shares during the quarter. Hills Bank & Trust Co’s holdings in Microchip Technology were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new stake in Microchip Technology during the first quarter worth about $39,000. Versant Capital Management Inc boosted its position in Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 317 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Microchip Technology in the 1st quarter valued at $54,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Microchip Technology in the second quarter worth about $55,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $74.81 on Friday. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 29.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The company’s 50-day moving average is $77.40 and its two-hundred day moving average is $85.32. Microchip Technology Incorporated has a 1-year low of $71.76 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The company’s quarterly revenue was down 45.8% on a year-over-year basis. During the same period last year, the company earned $1.56 EPS. Analysts forecast that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

MCHP has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $100.00 in a research report on Friday, August 16th. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Susquehanna decreased their target price on Microchip Technology from $105.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Morgan Stanley lowered Microchip Technology from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $102.00 to $100.00 in a research note on Thursday, July 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.89.

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.