National Bank of Canada FI Has $30.82 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

National Bank of Canada FI lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 57.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,791 shares of the semiconductor company's stock after selling 515,770 shares during the period. National Bank of Canada FI owned about 0.07% of Microchip Technology worth $30,815,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in Microchip Technology during the third quarter valued at $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology during the 3rd quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Wolff Wiese Magana LLC increased its holdings in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock worth $49,000 after buying an additional 218 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in Microchip Technology during the second quarter valued at approximately $55,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

MCHP stock traded up $2.58 during trading on Monday, reaching $61.87. 8,470,744 shares of the stock were exchanged, compared to its average volume of 6,187,195. The stock has a 50 day simple moving average of $71.80 and a 200-day simple moving average of $80.83. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $33.22 billion, a P/E ratio of 43.27 and a beta of 1.50. Microchip Technology Incorporated has a twelve month low of $57.96 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology's quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 earnings per share. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.33 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 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 2.94%. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology's dividend payout ratio (DPR) is presently 127.27%.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. Truist Financial cut shares of Microchip Technology from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $89.00 to $80.00 in a report on Monday, September 23rd. Citigroup reduced their price target on Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Mizuho set a $95.00 price objective on Microchip Technology in a report on Friday, October 18th. Finally, KeyCorp reduced their target price on Microchip Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

About Microchip Technology

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.