Microchip Technology Incorporated (NASDAQ:MCHP) Stake Lifted by Cambridge Trust Co.

Cambridge Trust Co. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 72.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767 shares of the semiconductor company’s stock after purchasing an additional 742 shares during the period. Cambridge Trust Co.’s holdings in Microchip Technology were worth $124,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its stake in shares of Microchip Technology by 31.8% in the 1st quarter. Panagora Asset Management Inc. now owns 21,731 shares of the semiconductor company’s stock worth $1,633,000 after buying an additional 5,237 shares in the last quarter. Cibc World Market Inc. lifted its holdings in Microchip Technology by 292.9% in 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 last quarter. Vontobel Holding Ltd. lifted its holdings in Microchip Technology by 4.1% in 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 last quarter. Sequoia Financial Advisors LLC boosted its position 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 valued at $335,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Microchip Technology by 1,272.4% in the 1st quarter. Loomis Sayles & Co. L P now owns 326,717 shares of the semiconductor company’s stock worth $24,550,000 after purchasing an additional 302,910 shares during the last quarter. 89.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCHP shares. Credit Suisse Group raised their target price on shares of Microchip Technology from $85.00 to $98.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Susquehanna boosted their target price on Microchip Technology from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Piper Sandler increased their price target on Microchip Technology from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Citigroup boosted their price objective on Microchip Technology from $74.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Finally, KeyCorp lifted their target price on shares of Microchip Technology from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Five 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.58.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $80.71 on Friday. 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 one year low of $54.33 and a one year high of $87.76. The business’s 50-day moving average price is $80.21 and its two-hundred day moving average price is $72.23. The company has a market capitalization of $44.21 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 0.85 and a beta of 1.58.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were paid a $0.358 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.43 annualized dividend and a dividend yield of 1.77%. Microchip Technology’s payout ratio is presently 38.75%.

Microchip Technology Company 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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