Boston Trust Walden Corp Sells 225 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Boston Trust Walden Corp lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,075 shares of the semiconductor company’s stock after selling 225 shares during the quarter. Boston Trust Walden Corp’s holdings in Microchip Technology were worth $406,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MCHP. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after acquiring an additional 776,408 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after acquiring an additional 25,872 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent research reports. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Microchip Technology in a research note on Tuesday, December 3rd. TD Cowen dropped their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler reduced their price objective on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $52.60 on Wednesday. The company has a market capitalization of $28.25 billion, a P/E ratio of 36.78 and a beta of 1.50. Microchip Technology Incorporated has a fifty-two week low of $51.37 and a fifty-two week high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The stock has a 50 day moving average price of $58.94 and a two-hundred day moving average price of $70.76.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 EPS. Analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.