TD Private Client Wealth LLC Has $1.64 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

TD Private Client Wealth LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,663 shares of the semiconductor company’s stock after selling 4,512 shares during the quarter. TD Private Client Wealth LLC’s holdings in Microchip Technology were worth $1,644,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Semanteon Capital Management LP acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $1,435,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Microchip Technology by 2.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 17,689 shares of the semiconductor company’s stock worth $1,014,000 after buying an additional 362 shares during the period. Blueshift Asset Management LLC acquired a new position in Microchip Technology during the fourth quarter valued at approximately $209,000. iA Global Asset Management Inc. grew its holdings in Microchip Technology by 5.8% during the fourth quarter. iA Global Asset Management Inc. now owns 57,881 shares of the semiconductor company’s stock valued at $3,319,000 after purchasing an additional 3,191 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Microchip Technology by 781.0% during the fourth quarter. Teacher Retirement System of Texas now owns 31,646 shares of the semiconductor company’s stock valued at $1,815,000 after purchasing an additional 28,054 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Price Performance

Shares of MCHP opened at $51.72 on Friday. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 92.36 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $49.92 and a 1-year high of $100.57. The company’s fifty day simple moving average is $56.17 and its 200 day simple moving average is $64.74. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.52%. Microchip Technology’s payout ratio is 325.00%.

Microchip Technology 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.