TD Asset Management Inc Sells 166,201 Shares of Microchip Technology Incorporated $MCHP

TD Asset Management Inc reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891,952 shares of the semiconductor company’s stock after selling 166,201 shares during the period. TD Asset Management Inc owned about 0.16% of Microchip Technology worth $81,346,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Resonant Capital Advisors LLC lifted its stake in Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 118 shares in the last quarter. Apella Capital LLC boosted its position in Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after acquiring an additional 122 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares in the last quarter. Gagnon Securities LLC raised its holdings in shares of Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after purchasing an additional 137 shares during the last quarter. Finally, Evelyn Partners Investment Management LLP raised its holdings in shares of Microchip Technology by 1.5% in the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 140 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,667 shares of company stock worth $1,580,580 in the last ninety days. Insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MCHP shares. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Monday, August 3rd. Citigroup lowered their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company cut their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. UBS Group restated a “buy” rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Microchip Technology Trading Up 1.9%

NASDAQ MCHP opened at $79.17 on Friday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average of $85.72 and a 200-day moving average of $81.47. The company has a market cap of $42.99 billion, a PE ratio of 118.17, a PEG ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 2.81 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.