Rockland Trust Co. bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,264 shares of the semiconductor company’s stock, valued at approximately $299,000.
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A number of other institutional investors have also recently bought and sold shares of MCHP. Household Group Estate & Retirement Specialist LLC purchased a new stake in Microchip Technology during the third quarter valued at $25,000. MV Capital Management Inc. lifted its position in shares of Microchip Technology by 157.1% during the third quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $26,000 Almanack Investment Partners LLC. acquired a new position in shares of Microchip Technology during the third quarter valued at $29,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Microchip Technology by 78.1% during the third quarter. FinTrust Capital Advisors LLC now owns 570 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 250 shares during the last quarter. 89.85% of shares are currently owned by institutional investors.
The Wall Street analyst weighs in
Several brokerages recently issued reports on MCHP. KeyCorp boosted their target price on Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Wells Fargo & Company boosted their target price on shares of Microchip Technology from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. Susquehanna boosted their price objective on shares of Microchip Technology from $85.00 to $100.00 and gave the company a “positive” rating in a report on Friday, February 3rd. Credit Suisse Group boosted their target price on Microchip Technology from $85.00 to $98.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Piper Sandler raised their price objective on Microchip Technology from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58, based on data from MarketBeat.
Microchip Technology stock rose 1.2%
Shares of Microchip Technology stock opened at $83.78 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76, and a quick ratio of 1.04. Microchip Technology Incorporated has a 1-year low of $54.33 and a 1-year high of $87.76. The company has a market cap of $45.89 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.58. The stock’s 50-day moving average is $81.53 and its 200-day moving average is $73.39.
Microchip technology increases the dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were given a dividend of $0.358 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.33. This represents a $1.43 annual dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 17th. Microchip Technology’s dividend payout ratio (DPR) is 38.75%.
Microchip Technology Profile
Microchip Technology, Inc is engaged in providing semiconductor products. It operates through the Semiconductor Product Licensing and Technology segments. The Semiconductor Products segment is involved in the design, development, manufacturing and marketing of microcontrollers, development tools and analog, interface, mixed signal, interconnect and timing products.
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