Microchip Technology, Inc is a semiconductor products provider with two business segments: Semiconductor Products and Technology Licensing. The Semiconductor Products segment is responsible for designing, developing, manufacturing, and marketing microcontrollers, analog, interface, mixed signal, connectivity devices, and timing products. MarketBeat.com offers a free daily email newsletter that provides a concise summary of the latest news and analysts’ ratings for Microchip Technology and related companies. Investors can subscribe to receive regular updates. Additionally, Microchip Technology recently increased its quarterly dividend payout to $0.358 from its previous dividend of $0.33, representing an increase in annualized dividend to $1.43 and a dividend yield of 1.77%.
Cambridge Trust Co. increases stake in Microchip Technology
Cambridge Trust Co. has increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 72.4% during the fourth quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now owns a total of shares in the semiconductor company, worth millions of dollars.
Other institutional investors also increase stakes
Panagora Asset Management Inc., Cibc World Market Inc., Vontobel Holding Ltd., Sequoia Financial Advisors LLC, and Loomis Sayles & Co. L P are among the other institutional investors who have recently increased their stakes in Microchip Technology. Together, institutional investors and hedge funds currently own 89.85% of the company’s stock.
Microchip Technology is a leading provider of microcontroller, mixed-signal, analog, and Flash-IP solutions, offering a comprehensive portfolio of products for a range of applications in the automotive, industrial, computing, consumer, aerospace, and defense markets. With a market capitalization of over $50 billion, the company has established itself as a prominent player in the semiconductor industry.
Analysts Provide Ratings for Microchip Technology
Microchip Technology Incorporated (NASDAQ: MCHP) has been recently rated by several analysts. According to a report published on Friday, February 3rd, Credit Suisse Group raised their target price for the stock from $85.00 to $98.00 and gave it a “neutral” rating. Susquehanna boosted its target price on the semiconductor company from $85.00 to $100.00 and gave it a “positive” rating. Piper Sandler increased their price target from $80.00 to $100.00 and gave it an “overweight” rating. Citigroup also raised its price target for Microchip Technology from $74.00 to $85.00 and gave it a “neutral” rating. Lastly, KeyCorp raised its target price from $85.00 to $100.00 and gave it an “overweight” rating. As per MarketBeat data, five analysts have rated the stock as “hold”, twelve have rated it as “buy”, and one has assigned a “strong buy” rating to the stock.
The consensus target price for Microchip Technology is $90.58.
Microchip Technology’s Stock Performance
On Friday, shares of Microchip Technology opened at $80.71. The semiconductor company has a market capitalization of $44.21 billion and a P/E ratio of 21.87. Its 50-day moving average price is $80.21 and the 200-day moving average price is $72.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76, and a quick ratio of 1.04. The company’s one-year low is $54.33 and its one-year high is $87.76. The beta of Microchip Technology is 1.58, and its price-to-earnings-growth ratio is 0.85.
Microchip Technology’s Dividend Increase
Microchip Technology also announced a quarterly dividend, which was paid on Tuesday, March 7th. The company increased its dividend to $0.358 from its previous quarterly dividend of $0.33. Investors who were recorded on Tuesday, February 21st, were eligible for the dividend payout. The ex-dividend date of this dividend was Friday, February 17th. Microchip Technology’s current annualized dividend is $1.43, and its dividend yield is 1.77%. The current payout ratio of the company is 38.75%.
Microchip Technology Business Segments
Microchip Technology, Inc is a semiconductor products provider. It has two business segments: Semiconductor Products and Technology Licensing. The Semiconductor Products segment is responsible for designing, developing, manufacturing, and marketing microcontrollers, analog, interface, mixed signal, connectivity devices, and timing products.
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