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

Microchip Technology Inc. (NASDAQ:MCHP) VP Mitchell R. Little sold 4,159 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 approximately $1,326,635.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Microchip Technology Inc. (NASDAQ:MCHP) opened at $85.16 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $20,250.00, a P/E ratio of 23.46, a PEG ratio of 1.12 and a beta of 1.05. Microchip Technology Inc. has a 1-year low of $71.40 and a 1-year high of $99.17.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The business had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. Microchip Technology’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. equities research analysts anticipate that Microchip Technology Inc. will post 5.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be paid a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, February 20th. Microchip Technology’s dividend payout ratio is presently 39.94%.

MCHP has been the subject of a number of recent analyst reports. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Friday, November 10th. 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. Morgan Stanley upped their price target on Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. Jefferies Group upped their price target on Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $120.00 price target on shares of Microchip Technology in a report on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $102.35.

Several hedge funds and other institutional investors have recently modified their holdings of MCHP. Intl Fcstone Inc. acquired a new position in shares of Microchip Technology in the second quarter valued at $335,000. Shell Asset Management Co. raised its stake in shares of Microchip Technology by 188.2% in the third quarter. Shell Asset Management Co. now owns 32,776 shares of the semiconductor company’s stock valued at $1,548,000 after purchasing an additional 21,405 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in shares of Microchip Technology by 95.6% in the third quarter. Rockefeller Financial Services Inc. now owns 2,934 shares of the semiconductor company’s stock valued at $263,000 after purchasing an additional 1,434 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Microchip Technology by 8.1% in the third quarter. LS Investment Advisors LLC now owns 8,267 shares of the semiconductor company’s stock valued at $742,000 after purchasing an additional 618 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Microchip Technology by 11.7% in the third quarter. APG Asset Management N.V. now owns 147,237 shares of the semiconductor company’s stock valued at $13,219,000 after purchasing an additional 15,400 shares in the last quarter.

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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.

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

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