Burke & Herbert Bank & Trust Co. Buys Shares of 3,084 Microchip Technology Incorporated (NASDAQ:MCHP)

Burke & Herbert Bank & Trust Co. bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,084 shares of the semiconductor company’s stock, valued at approximately $217,000.

A number of other large investors have also recently bought and sold shares of the stock. Jump Financial LLC boosted its holdings in shares of Microchip Technology by 2.7% during the third quarter. Jump Financial LLC now owns 8,885 shares of the semiconductor company’s stock worth $542,000 after purchasing an additional 237 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of Microchip Technology by 21.4% during the third quarter. FDx Advisors Inc. now owns 5,738 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 1,013 shares during the last quarter. Foster & Motley Inc. acquired a new stake in shares of Microchip Technology during the third quarter worth $471,000. Toroso Investments LLC boosted its holdings in shares of Microchip Technology by 50.9% during the third quarter. Toroso Investments LLC now owns 20,581 shares of the semiconductor company’s stock worth $1,256,000 after purchasing an additional 6,945 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Microchip Technology by 22.6% during the third quarter. Intech Investment Management LLC now owns 20,616 shares of the semiconductor company’s stock worth $1,258,000 after purchasing an additional 3,805 shares during the last quarter. Institutional investors and hedge funds own 89.85% of the company’s stock.

Microchip Technology Stock Down 1.9 %

Shares of NASDAQ:MCHP opened at $80.71 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.04. Microchip Technology Incorporated has a 52-week low of $54.33 and a 52-week high of $87.76. The company has a 50 day moving average of $80.21 and a two-hundred day moving average of $72.23. The company has a market capitalization of $44.21 billion, a price-to-earnings 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 disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were given a $0.358 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 17th. This represents a $1.43 annualized dividend and a yield of 1.77%. Microchip Technology’s dividend payout ratio (DPR) is 38.75%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MCHP shares. The Goldman Sachs Group raised their price objective on Microchip Technology from $76.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Stifel Nicolaus lifted their target price on Microchip Technology from $77.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, November 29th. Susquehanna lifted their target price on Microchip Technology from $85.00 to $100.00 and gave the company a “positive” rating in a report on Friday, February 3rd. Truist Financial lifted their target price on Microchip Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Finally, Raymond James lifted their target price on Microchip Technology from $90.00 to $105.00 and gave the company a “strong-buy” rating in a 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. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58.

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.