Microchip Technology Inc. (NASDAQ:MCHP) Director Esther Johnson sold 2,275 shares of Microchip Technology stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total transaction of $222,722.50. Following the completion of the transaction, the director now owns 6,081 shares of the company’s stock, valued at approximately $595,329.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Microchip Technology stock opened at $98.18 on Monday. 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 Inc. has a twelve month low of $71.40 and a twelve month high of $101.48. The company has a market cap of $23,007.81, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.08.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The company had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. During the same quarter in the previous year, the business posted $1.05 EPS. The firm’s revenue was up 19.1% on a year-over-year basis. equities analysts forecast that Microchip Technology Inc. will post 5.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st were issued a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 149.49%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation boosted its holdings in shares of Microchip Technology by 215.5% in the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock valued at $110,000 after buying an additional 836 shares in the last quarter. Amica Retiree Medical Trust acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $121,000. Valeo Financial Advisors LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $146,000. Twin Tree Management LP boosted its holdings in shares of Microchip Technology by 126.2% in the 4th quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 10,646 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $198,000.
A number of research analysts recently weighed in on MCHP shares. Goldman Sachs upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.57 to $108.00 in a report on Thursday, March 8th. SunTrust Banks upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Stifel Nicolaus restated an “average” rating and issued a $112.00 price objective on shares of Microchip Technology in a report on Tuesday, March 6th. Finally, Bank of America dropped their price objective on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $103.04.
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Microchip Technology Company Profile
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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