Tdam USA Inc. trimmed its holdings in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 3.1% during the second quarter, HoldingsChannel reports. The fund owned 6,492 shares of the semiconductor company’s stock after selling 205 shares during the quarter. Tdam USA Inc.’s holdings in Microchip Technology were worth $563,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Osborn Williams & Donohoe LLC bought a new stake in shares of Microchip Technology in the 1st quarter valued at $31,000. Parkside Financial Bank & Trust raised its holdings in Microchip Technology by 65.3% during the first quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock worth $36,000 after buying an additional 171 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in Microchip Technology by 186.5% during the first quarter. Gemmer Asset Management LLC now owns 487 shares of the semiconductor company’s stock worth $40,000 after buying an additional 317 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in Microchip Technology during the first quarter worth $43,000. Finally, Shine Investment Advisory Services Inc. raised its holdings in Microchip Technology by 110.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 578 shares of the semiconductor company’s stock worth $48,000 after buying an additional 303 shares during the last quarter.
Several research firms have weighed in on MCHP. BMO Capital Markets lowered their price objective on shares of Microchip Technology from $118.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. ValuEngine downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co upped their price objective on shares of Microchip Technology from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Rosenblatt Securities restated a “buy” rating and set a $115.00 price objective on shares of Microchip Technology in a report on Wednesday, August 7th. Finally, Longbow Research began coverage on shares of Microchip Technology in a report on Tuesday, July 9th. They set a “neutral” rating and a $87.93 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $101.76.
Shares of NASDAQ MCHP traded up $0.73 during trading on Thursday, hitting $87.64. The stock had a trading volume of 13,935 shares, compared to its average volume of 2,368,169. Microchip Technology Inc. has a 12 month low of $60.70 and a 12 month high of $101.35. 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 firm has a market capitalization of $20.78 billion, a P/E ratio of 14.44, a PEG ratio of 1.34 and a beta of 1.41. The company’s fifty day moving average price is $90.86.
Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.16. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that Microchip Technology Inc. will post 5.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a $0.366 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, August 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.67%. Microchip Technology’s dividend payout ratio is presently 24.01%.
In other news, VP James Eric Bjornholt sold 2,188 shares of the company’s 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.21% of the company’s stock.
Microchip Technology Company 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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