Microchip Technology Inc. (NASDAQ:MCHP) CEO Steve Sanghi sold 49,901 shares of Microchip Technology stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $63.80, for a total value of $3,183,683.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Thursday, November 17th, Steve Sanghi sold 28,693 shares of Microchip Technology stock. The shares were sold at an average price of $65.41, for a total value of $1,876,809.13.
  • On Wednesday, November 9th, Steve Sanghi sold 26,308 shares of Microchip Technology stock. The stock was sold at an average price of $64.20, for a total value of $1,688,973.60.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) traded up 0.82% during trading on Wednesday, hitting $66.11. The stock had a trading volume of 1,712,266 shares. The firm has a 50 day moving average price of $61.58 and a 200-day moving average price of $56.95. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 287.43 and a beta of 1.04. Microchip Technology Inc. has a 52 week low of $39.01 and a 52 week high of $66.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07. The firm had revenue of $873.80 million for 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%. The company’s revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. On average, equities research analysts forecast that Microchip Technology Inc. will post $3.62 EPS for the current fiscal year.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be given a dividend of $0.3605 per share. This represents a $1.44 annualized dividend and a yield of 2.18%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, November 17th. Microchip Technology’s dividend payout ratio (DPR) is presently 720.00%.

A number of institutional investors have recently bought and sold shares of the company. Davis R M Inc. raised its position in Microchip Technology by 1.1% in the second quarter. Davis R M Inc. now owns 584,802 shares of the company’s stock valued at $29,685,000 after buying an additional 6,418 shares during the last quarter. Fenimore Asset Management Inc. raised its position in Microchip Technology by 0.9% in the third quarter. Fenimore Asset Management Inc. now owns 901,115 shares of the company’s stock valued at $55,995,000 after buying an additional 7,850 shares during the last quarter. Legal & General Group Plc raised its position in 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 during the last quarter. RNC Capital Management LLC raised its position in Microchip Technology by 1.0% in the second quarter. RNC Capital Management LLC now owns 372,870 shares of the company’s stock valued at $18,927,000 after buying an additional 3,760 shares during the last quarter. Finally, LPL Financial LLC raised its position in Microchip Technology by 9.9% in the first quarter. LPL Financial LLC now owns 127,968 shares of the company’s stock valued at $6,225,000 after buying an additional 11,556 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Several analysts have recently weighed in on the company. B. Riley restated a “buy” rating and set a $78.00 price target on shares of Microchip Technology in a report on Sunday, November 13th. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a report on Friday, November 11th. Jefferies Group restated a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Microchip Technology in a report on Thursday, November 10th. Pacific Crest restated a “hold” rating on shares of Microchip Technology in a report on Tuesday, November 8th. Finally, Mizuho restated a “neutral” rating and set a $67.00 price target on shares of Microchip Technology in a report on Tuesday, November 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Microchip Technology presently has an average rating of “Buy” and a consensus target price of $64.61.

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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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