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.
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.
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