TD Asset Management Inc Trims Stock Holdings in Microchip Technology Incorporated $MCHP

TD Asset Management Inc decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 21.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,343,151 shares of the semiconductor company’s stock after selling 365,582 shares during the quarter. TD Asset Management Inc’s holdings in Microchip Technology were worth $94,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MCF Advisors LLC increased its position in Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares in the last quarter. Carderock Capital Management Inc. purchased a new stake in shares of Microchip Technology during the second quarter worth about $39,000. Painted Porch Advisors LLC purchased a new stake in shares of Microchip Technology during the second quarter worth about $40,000. Garde Capital Inc. purchased a new stake in shares of Microchip Technology during the first quarter worth about $30,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of Microchip Technology by 115.4% during the second quarter. Capital Advisors Ltd. LLC now owns 823 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research analyst reports. Truist Financial increased their target price on Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. Stifel Nicolaus increased their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. UBS Group increased their target price on Microchip Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Citigroup raised their price target on Microchip Technology from $68.00 to $90.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Needham & Company LLC raised their price target on Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares of the company’s stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $64.60 on Wednesday. The stock has a market capitalization of $34.86 billion, a PE ratio of -190.00, a P/E/G ratio of 1.84 and a beta of 1.55. The business has a 50 day simple moving average of $65.16 and a two-hundred day simple moving average of $61.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $79.44.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently -535.29%.

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.