Microchip Technology Inc. (MCHP) VP Mitchell R. Little Sells 4,159 Shares

Microchip Technology Inc. (NASDAQ:MCHP) VP Mitchell R. Little sold 4,159 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at $1,326,635.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) traded down $0.71 on Thursday, reaching $84.15. The company had a trading volume of 3,235,800 shares, compared to its average volume of 3,146,820. Microchip Technology Inc. has a 52 week low of $71.40 and a 52 week high of $99.17. The stock has a market cap of $19,710.00, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.13 and a beta of 1.05. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The company had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. sell-side analysts predict that Microchip Technology Inc. will post 5.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be issued a $0.363 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.45 annualized dividend and a yield of 1.73%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 39.94%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank boosted its stake in Microchip Technology by 10.9% in the 4th quarter. Huntington National Bank now owns 5,594 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 550 shares during the period. Advantus Capital Management Inc boosted its stake in Microchip Technology by 2.6% in the 3rd quarter. Advantus Capital Management Inc now owns 23,555 shares of the semiconductor company’s stock worth $2,115,000 after purchasing an additional 587 shares during the period. LS Investment Advisors LLC boosted its stake in Microchip Technology by 8.1% in the 3rd quarter. LS Investment Advisors LLC now owns 8,267 shares of the semiconductor company’s stock worth $742,000 after purchasing an additional 618 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in Microchip Technology by 15.9% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 4,878 shares of the semiconductor company’s stock worth $429,000 after purchasing an additional 668 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in Microchip Technology by 3.7% in the 4th quarter. Raymond James Trust N.A. now owns 18,601 shares of the semiconductor company’s stock worth $1,634,000 after purchasing an additional 671 shares during the period.

Several equities research analysts have recently issued reports on the company. Argus reaffirmed a “buy” rating and set a $90.00 target price (up from $79.90) on shares of Microchip Technology in a research report on Friday, February 9th. Morgan Stanley decreased their target price on Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Bank of America decreased their target price on Microchip Technology from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology has a consensus rating of “Buy” and an average target price of $102.35.

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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.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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