Boston Trust Walden Corp Buys 2,000 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Posted by on Mar 31st, 2023

Boston Trust Walden Corp grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 36.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,500 shares of the semiconductor company’s stock after acquiring an additional 2,000 shares during the quarter. Boston Trust Walden Corp’s holdings in Microchip Technology were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MCHP. Panagora Asset Management Inc. lifted its position in shares of Microchip Technology by 31.8% during the 1st quarter. Panagora Asset Management Inc. now owns 21,731 shares of the semiconductor company’s stock valued at $1,633,000 after acquiring an additional 5,237 shares during the period. Cibc World Market Inc. lifted its position in shares of Microchip Technology by 292.9% during the 1st quarter. Cibc World Market Inc. now owns 44,324 shares of the semiconductor company’s stock valued at $3,331,000 after acquiring an additional 33,044 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Microchip Technology by 4.1% during the 1st quarter. Vontobel Holding Ltd. now owns 29,572 shares of the semiconductor company’s stock valued at $2,259,000 after acquiring an additional 1,159 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Microchip Technology by 34.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,455 shares of the semiconductor company’s stock worth $335,000 after buying an additional 1,133 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Microchip Technology by 1,272.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 326,717 shares of the semiconductor company’s stock worth $24,550,000 after buying an additional 302,910 shares in the last quarter. 89.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Microchip Technology in a report on Wednesday, March 8th. Raymond James boosted their price target on Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Friday, February 3rd. StockNews.com assumed coverage on Microchip Technology in a report on Thursday, March 16th. They set a “buy” rating for the company. Susquehanna boosted their price target on Microchip Technology from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Friday, February 3rd. Finally, B. Riley boosted their price target on Microchip Technology from $86.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.58.

Microchip Technology Trading Up 2.4 %

NASDAQ MCHP opened at $82.78 on Friday. The business’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $73.15. Microchip Technology Incorporated has a 12 month low of $54.33 and a 12 month high of $87.76. The firm has a market capitalization of $45.35 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were given a $0.358 dividend. This represents a $1.43 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 17th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s payout ratio is 38.75%.

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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