Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Assenagon Asset Management S.A. boosted its holdings in Microchip Technology by 9,901.6% during 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 buying an additional 2,829,082 shares in the last quarter. Van ECK Associates Corp lifted its position 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 valued at $599,239,000 after acquiring an additional 1,597,263 shares during the last quarter. Franklin Resources Inc. boosted its stake 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 worth $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Microchip Technology by 20.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after acquiring an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in shares of Microchip Technology in the 3rd quarter worth $27,744,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCHP shares. Stifel Nicolaus dropped their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. TD Cowen lowered 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 report on Wednesday, November 6th. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Morgan Stanley lowered their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Evercore ISI reissued an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $81.67.

Microchip Technology Trading Up 0.7 %

Shares of NASDAQ:MCHP opened at $52.60 on Wednesday. The business’s 50 day simple moving average is $58.94 and its 200 day simple moving average is $70.76. Microchip Technology Incorporated has a 1 year low of $51.37 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. 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 (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $1.54 EPS. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

About Microchip Technology

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.