TD Asset Management Inc Sells 365,582 Shares of Microchip Technology Incorporated $MCHP

Key Points

• TD Asset Management Inc. has reduced its stake in Microchip Technology by 21.4% after selling 365,582 shares, leaving it with approximately 1.34 million shares valued at $94.5 million.
• Recently, several institutional investors have increased their positions in Microchip Technology, contributing to an overall institutional ownership level of 91.51%.
• Microchip Technology reported $1.08 billion in revenue for the most recent quarter, exceeding analyst expectations, but also showed a 13.3% year-over-year decline in revenue.

TD Asset Management Inc lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 21.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,343,151 shares of the semiconductor company's stock after selling 365,582 shares during the quarter. TD Asset Management Inc owned 0.25% of Microchip Technology worth $94,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Garde Capital Inc. bought a new stake in Microchip Technology in the first quarter valued at approximately $30,000. MCF Advisors LLC lifted its position in Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 321 shares during the last quarter. Carderock Capital Management Inc. bought a new stake in Microchip Technology in the second quarter valued at approximately $39,000. WPG Advisers LLC purchased a new position in shares of Microchip Technology during the first quarter valued at approximately $40,000. Finally, Painted Porch Advisors LLC purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $40,000. Institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Up 0.3%

Shares of NASDAQ:MCHP opened at $64.60 on Wednesday. The company has a market cap of $34.86 billion, a P/E ratio of -190.00, a PEG ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $79.44. The stock's fifty day moving average price is $65.16 and its 200-day moving average price is $61.27.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology's dividend payout ratio is presently -535.29%.

Wall Street Analyst Weigh In

MCHP has been the topic of several research analyst reports. Susquehanna boosted their target price on Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Mizuho boosted their target price on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Truist Financial boosted their target price on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Weiss Ratings reissued a "sell (d+)" rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Finally, Citigroup boosted their target price on Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $75.75.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.