Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 76.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,505 shares of the semiconductor company's stock after selling 11,478 shares during the period. TD Waterhouse Canada Inc.'s holdings in Microchip Technology were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new position in Microchip Technology in the fourth quarter worth $29,000. Financial Life Planners acquired a new stake in Microchip Technology in the fourth quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Microchip Technology Stock Up 0.3 %

NASDAQ:MCHP traded up $0.16 on Wednesday, reaching $46.08. The stock had a trading volume of 10,845,081 shares, compared to its average volume of 8,249,237. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $48.79 and a 200 day moving average of $57.99. The stock has a market cap of $24.78 billion, a P/E ratio of 82.29 and a beta of 1.51. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. On average, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley dropped their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. B. Riley restated a "buy" rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Needham & Company LLC boosted their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.79.

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.