Microchip Technology Inc. (NASDAQ:MCHP) declared a quarterly dividend on Monday, November 7th. Investors of record on Monday, November 21st will be paid a dividend of 0.3605 per share on Monday, December 5th. This represents a $1.44 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, November 17th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36.

Microchip Technology (NASDAQ:MCHP) opened at 63.15 on Friday. The company has a 50-day moving average of $60.88 and a 200 day moving average of $56.04. Microchip Technology has a 12 month low of $39.01 and a 12 month high of $65.61. The company has a market cap of $13.61 billion, a PE ratio of 274.57 and a beta of 1.04.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Microchip Technology had a net margin of 1.77% and a return on equity of 27.29%. The firm had revenue of $873.80 million for the quarter, compared to analysts’ expectations of $860.96 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up 56.2% compared to the same quarter last year. On average, equities analysts forecast that Microchip Technology will post $3.42 earnings per share for the current fiscal year.

Dividend History for Microchip Technology (NASDAQ:MCHP)

A number of equities analysts have issued reports on MCHP shares. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Mizuho began coverage on shares of Microchip Technology in a research report on Friday, September 30th. They set a “neutral” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Microchip Technology from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Stifel Nicolaus boosted their price target on shares of Microchip Technology from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. upgraded shares of Microchip Technology from a “sell” rating to a “neutral” rating and boosted their price target for the company from $49.00 to $57.00 in a research report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $64.61.

In related news, VP Stephen V. Drehobl sold 4,454 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $60.95, for a total transaction of $271,471.30. Following the transaction, the vice president now owns 13,622 shares in the company, valued at $830,260.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steve Sanghi sold 28,771 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $61.02, for a total transaction of $1,755,606.42. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. increased its position in shares of Microchip Technology by 2.2% in the second quarter. First Allied Advisory Services Inc. now owns 6,473 shares of the company’s stock worth $329,000 after buying an additional 138 shares during the period. Azimuth Capital Management LLC increased its position in shares of Microchip Technology by 0.8% in the second quarter. Azimuth Capital Management LLC now owns 18,680 shares of the company’s stock worth $948,000 after buying an additional 150 shares during the period. Stonebridge Capital Advisors LLC increased its position in shares of Microchip Technology by 0.4% in the second quarter. Stonebridge Capital Advisors LLC now owns 55,453 shares of the company’s stock worth $2,815,000 after buying an additional 245 shares during the period. Cleararc Capital Inc. increased its position in shares of Microchip Technology by 5.3% in the second quarter. Cleararc Capital Inc. now owns 5,209 shares of the company’s stock worth $264,000 after buying an additional 263 shares during the period. Finally, WFG Advisors LP increased its position in shares of Microchip Technology by 5.0% in the second quarter. WFG Advisors LP now owns 9,383 shares of the company’s stock worth $476,000 after buying an additional 447 shares during the period.

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.

5 Day Chart for NASDAQ:MCHP

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