Cullen Frost Bankers Inc. Has $39,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Cullen Frost Bankers Inc. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 52.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 678 shares of the semiconductor company’s stock after selling 745 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Microchip Technology were worth $39,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Metis Global Partners LLC raised its stake in 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 acquiring an additional 172 shares in the last quarter. Plato Investment Management Ltd increased its stake in shares of Microchip Technology by 5.8% in the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 191 shares during the period. Summit Global Investments increased its stake in shares of Microchip Technology by 2.5% in the third quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock valued at $679,000 after buying an additional 207 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Microchip Technology by 0.8% in the third quarter. Apollon Wealth Management LLC now owns 26,475 shares of the semiconductor company’s stock valued at $2,126,000 after buying an additional 218 shares during the period. Finally, Empower Advisory Group LLC increased its stake in shares of Microchip Technology by 7.3% in the third quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the 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 transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by company insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $59.77 on Monday. The stock has a market capitalization of $32.15 billion, a price-to-earnings ratio of 106.73 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The stock’s 50 day moving average price is $56.98 and its two-hundred day moving average price is $66.56. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

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

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. B. Riley reaffirmed a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. KeyCorp lowered their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, Needham & Company LLC upped their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.