Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by TD Asset Management Inc

TD Asset Management Inc increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,708,733 shares of the semiconductor company’s stock after buying an additional 131,833 shares during the quarter. TD Asset Management Inc owned about 0.32% of Microchip Technology worth $82,720,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCHP. LPL Financial LLC grew its stake in shares of Microchip Technology by 25.4% in the 4th quarter. LPL Financial LLC now owns 542,005 shares of the semiconductor company’s stock worth $31,084,000 after purchasing an additional 109,885 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Microchip Technology by 16.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 96,405 shares of the semiconductor company’s stock worth $5,529,000 after buying an additional 13,307 shares during the last quarter. DnB Asset Management AS grew its position in Microchip Technology by 1.0% in the fourth quarter. DnB Asset Management AS now owns 91,118 shares of the semiconductor company’s stock worth $5,226,000 after buying an additional 940 shares during the last quarter. Allstate Corp bought a new position in shares of Microchip Technology in the fourth quarter valued at $922,000. Finally, Schroder Investment Management Group lifted its position in shares of Microchip Technology by 7.1% during the 4th quarter. Schroder Investment Management Group now owns 621,164 shares of the semiconductor company’s stock valued at $35,481,000 after acquiring an additional 41,077 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $69.21 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $89.59. The business’s 50-day moving average price is $67.83 and its two-hundred day moving average price is $57.39. The company has a market capitalization of $37.35 billion, a P/E ratio of -6,921.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The business had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same period in the previous year, the company earned $0.57 EPS. The firm’s revenue was down 26.8% on a year-over-year basis. Analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.63%. Microchip Technology’s dividend payout ratio (DPR) is -18,200.00%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCHP. Susquehanna lifted their target price on Microchip Technology from $60.00 to $90.00 and gave the stock a “positive” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Microchip Technology in a research note on Thursday, July 10th. They issued a “buy” rating and a $88.00 price target on the stock. Mizuho boosted their price objective on Microchip Technology from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. TD Cowen raised their target price on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, May 9th. Finally, Rosenblatt Securities lifted their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.70.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the sale, the chief financial officer owned 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karlton D. Johnson sold 494 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, the director owned 3,468 shares of the company’s stock, valued at $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

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.