M&T Bank Corp Has $30.21 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

M&T Bank Corp lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 334,975 shares of the semiconductor company's stock after selling 17,195 shares during the quarter. M&T Bank Corp owned 0.06% of Microchip Technology worth $30,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC increased its holdings in Microchip Technology by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company's stock worth $849,000 after buying an additional 119 shares during the last quarter. RFG Advisory LLC boosted its holdings in Microchip Technology by 3.2% in the fourth quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company's stock worth $353,000 after purchasing an additional 123 shares in the last quarter. Twelve Points Wealth Management LLC increased its position in Microchip Technology by 1.0% during the fourth quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company's stock worth $1,103,000 after buying an additional 125 shares during the last quarter. Merit Financial Group LLC raised its holdings in Microchip Technology by 1.9% during the third quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company's stock valued at $554,000 after buying an additional 134 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in shares of Microchip Technology by 4.1% in the third quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company's stock worth $281,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP traded up $1.90 during mid-day trading on Friday, hitting $91.36. 6,983,068 shares of the stock were exchanged, compared to its average volume of 5,300,839. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The company has a market cap of $49.37 billion, a P/E ratio of 21.35, a PEG ratio of 2.73 and a beta of 1.60. The stock's fifty day simple moving average is $88.05 and its two-hundred day simple moving average is $85.04. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.63.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $1.48 earnings per share. Microchip Technology's quarterly revenue was down 18.6% on a year-over-year basis. As a group, analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 30th. Truist Financial decreased their price target on shares of Microchip Technology from $97.00 to $93.00 and set a "buy" rating for the company in a report on Tuesday, January 9th. Wolfe Research upgraded Microchip Technology from a "peer perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group decreased their target price on Microchip Technology from $87.00 to $77.00 and set a "neutral" rating for the company in a research note on Friday, February 2nd. Finally, TD Cowen lifted their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a "market perform" rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.75.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO James Eric Bjornholt sold 1,970 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company's stock, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.