Toronto Dominion Bank Has $7.94 Million Position in Microchip Technology Incorporated (MCHP)
Toronto Dominion Bank increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,438 shares of the semiconductor company’s stock after acquiring an additional 10,586 shares during the period. Toronto Dominion Bank’s holdings in Microchip Technology were worth $7,939,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Microchip Technology by 66.5% in the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after acquiring an additional 2,507,707 shares during the last quarter. Fox Run Management L.L.C. grew its position in Microchip Technology by 248.8% in the 3rd quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock worth $1,347,000 after purchasing an additional 10,700 shares in the last quarter. Nicolet Bankshares Inc. grew its position in Microchip Technology by 0.3% in the 2nd quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 11 shares in the last quarter. 361 Capital LLC grew its position in Microchip Technology by 35.3% in the 2nd quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock worth $3,769,000 after purchasing an additional 12,730 shares in the last quarter. Finally, Norinchukin Bank The grew its position in Microchip Technology by 13.2% in the 2nd quarter. Norinchukin Bank The now owns 15,920 shares of the semiconductor company’s stock worth $1,229,000 after purchasing an additional 1,857 shares in the last quarter.
Microchip Technology Incorporated (MCHP) opened at $90.78 on Friday. Microchip Technology Incorporated has a 52-week low of $60.77 and a 52-week high of $95.92. The firm has a market cap of $20,955.58, a P/E ratio of 18.98, a PEG ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. sell-side analysts anticipate that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s dividend payout ratio is currently 58.00%.
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A number of equities research analysts have issued reports on MCHP shares. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Microchip Technology in a research report on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Tuesday, September 19th. B. Riley reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Wednesday, August 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Microchip Technology has an average rating of “Buy” and an average price target of $99.41.
In related news, VP Stephen V. Drehobl sold 3,076 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
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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