Toronto Dominion Bank lifted its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 19.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 151,275 shares of the semiconductor company’s stock after acquiring an additional 24,732 shares during the quarter. Toronto Dominion Bank’s holdings in Microchip Technology were worth $13,756,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCHP. Fieldpoint Private Securities LLC purchased a new stake in Microchip Technology in the 2nd quarter valued at $326,000. Teacher Retirement System of Texas raised its position in Microchip Technology by 12.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 58,335 shares of the semiconductor company’s stock valued at $5,306,000 after purchasing an additional 6,538 shares during the last quarter. Washington Capital Management Inc. raised its position in Microchip Technology by 32.4% in the 2nd quarter. Washington Capital Management Inc. now owns 4,900 shares of the semiconductor company’s stock valued at $446,000 after purchasing an additional 1,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Microchip Technology by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,931 shares of the semiconductor company’s stock valued at $4,086,000 after purchasing an additional 3,003 shares during the last quarter. Finally, Markel Corp raised its position in Microchip Technology by 85.7% in the 2nd quarter. Markel Corp now owns 91,000 shares of the semiconductor company’s stock valued at $8,276,000 after purchasing an additional 42,000 shares during the last quarter.

Shares of MCHP opened at $83.01 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.01 and a beta of 1.13. Microchip Technology Inc. has a 1 year low of $78.33 and a 1 year high of $104.20.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.13. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. Microchip Technology’s revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS. equities research analysts expect that Microchip Technology Inc. will post 6.18 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be paid a dividend of $0.364 per share. The ex-dividend date of this dividend is Monday, August 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.75%. Microchip Technology’s dividend payout ratio is 27.94%.

In other news, VP Stephen V. Drehobl sold 4,696 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $93.55, for a total transaction of $439,310.80. Following the transaction, the vice president now directly owns 19,711 shares of the company’s stock, valued at approximately $1,843,964.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Ganesh Moorthy purchased 12,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $84.10 per share, for a total transaction of $1,009,200.00. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

Several research firms recently commented on MCHP. Needham & Company LLC reduced their price target on shares of Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Monday, August 13th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Argus upped their price target on shares of Microchip Technology to $115.00 and gave the company an “average” rating in a research report on Monday, June 25th. They noted that the move was a valuation call. Finally, Nomura dropped their price objective on shares of Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $115.76.

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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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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