TD Asset Management Inc boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,100,331 shares of the semiconductor company’s stock after acquiring an additional 40,259 shares during the quarter. TD Asset Management Inc owned 0.20% of Microchip Technology worth $70,113,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MCHP. GoalVest Advisory LLC raised its position in Microchip Technology by 174.0% during the fourth quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in Microchip Technology during the fourth quarter valued at approximately $38,000. Kohmann Bosshard Financial Services LLC purchased a new position in Microchip Technology during the fourth quarter valued at approximately $38,000. TOWER TRUST & INVESTMENT Co raised its position in Microchip Technology by 1,555.0% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 662 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 622 shares in the last quarter. Finally, State of Wyoming grew its holdings in Microchip Technology by 78.1% in the second quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 271 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on MCHP shares. KeyCorp reissued an “overweight” rating and issued a $85.00 price objective on shares of Microchip Technology in a report on Friday, February 6th. Rosenblatt Securities raised their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Citigroup raised their price objective on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Finally, Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a report on Friday, February 6th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $97.52.
Microchip Technology Stock Performance
Shares of NASDAQ:MCHP opened at $88.34 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The business’s 50 day moving average price is $85.00 and its 200-day moving average price is $74.17. The firm has a market capitalization of $47.89 billion, a PE ratio of 420.69, a P/E/G ratio of 1.01 and a beta of 1.73. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts expect that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.
Microchip Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. Microchip Technology’s payout ratio is currently 866.67%.
Insider Transactions at Microchip Technology
In other news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $93.44, for a total value of $467,200.00. Following the sale, the chief operating officer directly owned 135,508 shares of the company’s stock, valued at $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 548,302 shares of company stock valued at $49,186,035. Insiders own 1.94% of the company’s stock.
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.
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