Microchip Technology Inc. (NASDAQ:MCHP) CEO Steve Sanghi sold 26,308 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $64.20, for a total value of $1,688,973.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steve Sanghi also recently made the following trade(s):

  • On Thursday, August 18th, Steve Sanghi sold 28,771 shares of Microchip Technology stock. The shares were sold at an average price of $61.02, for a total value of $1,755,606.42.
  • On Thursday, August 11th, Steve Sanghi sold 60,129 shares of Microchip Technology stock. The shares were sold at an average price of $60.58, for a total value of $3,642,614.82.

Microchip Technology Inc. (NASDAQ:MCHP) opened at 62.44 on Friday. The stock has a market capitalization of $13.44 billion, a P/E ratio of 168.30 and a beta of 1.04. The company’s 50-day moving average price is $60.82 and its 200 day moving average price is $55.94. Microchip Technology Inc. has a 52-week low of $39.01 and a 52-week high of $65.61.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The company earned $873.80 million during the quarter, compared to analyst estimates of $860.96 million. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. Microchip Technology’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities research analysts predict that Microchip Technology Inc. will post $3.42 earnings per share for the current fiscal year.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be issued a dividend of $0.3605 per share. The ex-dividend date is Thursday, November 17th. This represents a $1.44 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 720.00%.

Several hedge funds have recently modified their holdings of MCHP. Hancock Holding Co. acquired a new stake in shares of Microchip Technology during the first quarter valued at approximately $2,650,000. Nuveen Asset Management LLC raised its stake in shares of Microchip Technology by 6.0% in the first quarter. Nuveen Asset Management LLC now owns 26,922 shares of the company’s stock valued at $1,297,000 after buying an additional 1,524 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of Microchip Technology by 20.6% in the first quarter. AMP Capital Investors Ltd now owns 66,646 shares of the company’s stock valued at $3,255,000 after buying an additional 11,400 shares in the last quarter. National Pension Service raised its stake in shares of Microchip Technology by 4.5% in the first quarter. National Pension Service now owns 156,587 shares of the company’s stock valued at $7,547,000 after buying an additional 6,794 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Microchip Technology by 0.8% in the first quarter. Legal & General Group Plc now owns 913,454 shares of the company’s stock valued at $44,030,000 after buying an additional 7,332 shares in the last quarter.

A number of research analysts recently weighed in on MCHP shares. Stifel Nicolaus raised their price objective on Microchip Technology from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. B. Riley reaffirmed a “buy” rating and set a $74.00 price objective on shares of Microchip Technology in a research report on Tuesday, August 9th. Needham & Company LLC raised their price objective on Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $67.00 price objective on shares of Microchip Technology in a research report on Tuesday, August 9th. Finally, Citigroup Inc. raised their price objective on Microchip Technology from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $63.41.

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.

5 Day Chart for NASDAQ:MCHP

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