Tdam USA Inc. decreased its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,492 shares of the semiconductor company’s stock after selling 205 shares during the period. Tdam USA Inc.’s holdings in Microchip Technology were worth $563,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MCHP. Northern Trust Corp increased its stake in Microchip Technology by 1.7% in the first quarter. Northern Trust Corp now owns 3,362,490 shares of the semiconductor company’s stock valued at $278,952,000 after acquiring an additional 55,625 shares during the period. Coho Partners Ltd. grew its stake in Microchip Technology by 5.1% during the first quarter. Coho Partners Ltd. now owns 1,612,192 shares of the semiconductor company’s stock worth $133,747,000 after buying an additional 78,339 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in Microchip Technology by 0.4% during the first quarter. Parametric Portfolio Associates LLC now owns 1,441,120 shares of the semiconductor company’s stock worth $119,555,000 after buying an additional 5,982 shares during the last quarter. TD Asset Management Inc. grew its stake in Microchip Technology by 2.7% during the first quarter. TD Asset Management Inc. now owns 1,199,478 shares of the semiconductor company’s stock worth $99,508,000 after buying an additional 31,703 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Microchip Technology by 30.2% during the first quarter. First Trust Advisors LP now owns 1,129,588 shares of the semiconductor company’s stock worth $93,711,000 after buying an additional 261,717 shares during the last quarter.
NASDAQ MCHP traded up $0.73 during trading hours on Thursday, hitting $87.64. The company’s stock had a trading volume of 13,935 shares, compared to its average volume of 2,368,169. The stock has a fifty day moving average of $90.86. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $101.35. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.34 and a beta of 1.41. The company has a quick ratio of 0.63, a current ratio of 0.93 and a debt-to-equity ratio of 1.65.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be issued a $0.366 dividend. The ex-dividend date is Tuesday, August 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 annualized dividend and a yield of 1.67%. Microchip Technology’s dividend payout ratio (DPR) is 24.01%.
Several research firms have recently commented on MCHP. Piper Jaffray Companies set a $110.00 price target on shares of Microchip Technology and gave the company a “buy” rating in a research note on Wednesday, August 7th. Mizuho increased their price target on shares of Microchip Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. BMO Capital Markets decreased their price target on shares of Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. ValuEngine cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Microchip Technology currently has an average rating of “Hold” and a consensus target price of $101.76.
In other Microchip Technology news, VP James Eric Bjornholt sold 2,188 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.21% of the company’s stock.
Microchip Technology Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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