Microchip Technology Incorporated (MCHP) Position Decreased by Tdam USA Inc.
Tdam USA Inc. decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,117 shares of the semiconductor company’s stock after selling 688 shares during the quarter. Tdam USA Inc.’s holdings in Microchip Technology were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in MCHP. Grove Bank & Trust lifted its stake in Microchip Technology by 15.8% in the 2nd quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after acquiring an additional 190 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in Microchip Technology in the 3rd quarter worth about $121,000. Smithfield Trust Co. lifted its stake in Microchip Technology by 0.4% in the 2nd quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 7 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Microchip Technology by 1.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 29 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Microchip Technology by 608.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 1,807 shares in the last quarter.
MCHP has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, September 8th. Zacks Investment Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Thursday, October 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $106.00 price objective on shares of Microchip Technology in a research note on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Microchip Technology currently has a consensus rating of “Buy” and an average target price of $99.41.
Shares of Microchip Technology Incorporated (NASDAQ:MCHP) opened at $90.97 on Friday. Microchip Technology Incorporated has a fifty-two week low of $60.77 and a fifty-two week high of $95.92. The firm has a market capitalization of $21,278.34, a P/E ratio of 19.27, a PEG ratio of 1.45 and a beta of 1.05. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $0.94 EPS. Microchip Technology’s revenue for the quarter was up 16.2% compared to the same quarter last year. research analysts expect that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is presently 58.00%.
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About Microchip Technology
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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