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.
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