Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by TD Private Client Wealth LLC

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

A number of other institutional investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. grew its stake in Microchip Technology by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 260 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Microchip Technology by 1.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC grew its stake in Microchip Technology by 7.3% in the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after buying an additional 266 shares during the last quarter. Leelyn Smith LLC grew its stake in Microchip Technology by 2.2% in the 3rd quarter. Leelyn Smith LLC now owns 12,401 shares of the semiconductor company’s stock valued at $996,000 after buying an additional 268 shares during the last quarter. Finally, First Commonwealth Financial Corp PA grew its stake in Microchip Technology by 2.5% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company’s stock valued at $911,000 after buying an additional 279 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 1.4 %

Shares of MCHP stock opened at $51.72 on Friday. Microchip Technology Incorporated has a 12-month low of $49.92 and a 12-month high of $100.57. The company has a market capitalization of $27.82 billion, a P/E ratio of 92.36 and a beta of 1.52. The firm has a 50-day moving average price of $56.17 and a 200 day moving average price of $64.74. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Research analysts forecast that Microchip Technology Incorporated will post 1.03 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, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. B. Riley restated a “buy” rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Evercore ISI raised their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, TD Cowen raised their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by insiders.

About Microchip Technology

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.