Toronto Dominion Bank boosted its position in Microchip Technology Inc. (NASDAQ:MCHP) by 14.1% during the 4th quarter, Holdings Channel reports. The fund owned 100,937 shares of the semiconductor company’s stock after buying an additional 12,499 shares during the quarter. Toronto Dominion Bank’s holdings in Microchip Technology were worth $8,871,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in Microchip Technology by 7.8% in the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock valued at $781,389,000 after acquiring an additional 630,311 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Microchip Technology by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,891,973 shares of the semiconductor company’s stock valued at $259,643,000 after acquiring an additional 488,832 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Microchip Technology by 0.5% in the third quarter. Alkeon Capital Management LLC now owns 2,052,707 shares of the semiconductor company’s stock valued at $184,292,000 after acquiring an additional 10,000 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Microchip Technology by 2.0% in the third quarter. Victory Capital Management Inc. now owns 1,897,918 shares of the semiconductor company’s stock valued at $170,395,000 after acquiring an additional 37,148 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in Microchip Technology by 13.8% in the third quarter. Pictet Asset Management Ltd. now owns 1,830,462 shares of the semiconductor company’s stock valued at $164,339,000 after acquiring an additional 221,275 shares during the last quarter.
In other news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Microchip Technology Inc. (NASDAQ MCHP) opened at $83.41 on Friday. Microchip Technology Inc. has a 1-year low of $70.97 and a 1-year high of $99.17. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $19,546.55, a PE ratio of 16.62, a PEG ratio of 1.12 and a beta of 1.05.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The business had revenue of $994.10 million for the quarter, compared to analysts’ expectations of $992.10 million. During the same quarter in the previous year, the business posted $1.05 EPS. Microchip Technology’s revenue for the quarter was up 19.1% on a year-over-year basis. analysts forecast that Microchip Technology Inc. will post 5.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 149.49%.
Several equities analysts recently issued reports on MCHP shares. Zacks Investment Research cut Microchip Technology from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $120.00 target price on shares of Microchip Technology in a report on Tuesday, November 7th. Needham & Company LLC raised their target price on Microchip Technology from $120.00 to $130.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 target price (up previously from $94.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five 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’s stock. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $102.35.
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Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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