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Indiana Trust & Investment Management CO Acquires 155 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)


Indiana Trust & Investment Management CO has increased its holdings in Microchip Technology Incorporated by 18.4% in the 1st quarter, owning 999 shares worth $90,000. Several other institutions also made changes to their positions, with Norges Bank acquiring a significant position in Microchip Technology. The company’s stock has been performing well, with an increase of 2.3% recently.

Recent insider transactions include Director Matthew W. Chapman selling shares of the company, while CFO James Eric Bjornholt also sold shares. Despite these sales, company insiders still own 2.07% of Microchip Technology’s stock. Wall Street analysts have forecasted growth for the company, with KeyCorp, Jefferies Financial Group, and others giving positive ratings and increased price targets.

Microchip Technology recently announced its quarterly earnings and a dividend increase, with a payout ratio of 52.16%. The company is known for developing smart, connected, and secure embedded control solutions for various applications. With a consensus rating of “Moderate Buy” from analysts, Microchip Technology continues to be a strong player in the semiconductor industry.

Investors are keeping a close eye on the company’s performance and future growth potential. With a market cap of $49.13 billion, Microchip Technology is expected to post strong earnings in the current fiscal year. The company’s innovative solutions and strategic moves in the market have positioned it as a top player in the industry.

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