Microchip Technology Inc. (NASDAQ:MCHP) VP Richard J. Simoncic sold 2,892 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $64.90, for a total transaction of $187,690.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Microchip Technology Inc. (NASDAQ:MCHP) traded up 0.82% on Wednesday, reaching $66.11. 1,712,266 shares of the company’s stock were exchanged. The stock has a market capitalization of $14.28 billion, a P/E ratio of 287.43 and a beta of 1.04. Microchip Technology Inc. has a 1-year low of $39.01 and a 1-year high of $66.12. The firm’s 50 day moving average is $61.71 and its 200 day moving average is $57.01.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results 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. The company had revenue of $873.80 million for the quarter, compared to analysts’ expectations of $860.96 million. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. Analysts expect that Microchip Technology Inc. will post $3.62 EPS for the current 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 paid a $0.3605 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.18%. This is a boost 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 large investors have recently bought and sold shares of MCHP. Nuveen Asset Management LLC boosted its stake in Microchip Technology by 6.0% in the first quarter. Nuveen Asset Management LLC now owns 26,922 shares of the company’s stock worth $1,297,000 after buying an additional 1,524 shares during the last quarter. AMP Capital Investors Ltd boosted 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 worth $3,255,000 after buying an additional 11,400 shares in the last quarter. Legal & General Group Plc boosted 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 worth $44,030,000 after buying an additional 7,332 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Microchip Technology during the first quarter worth $320,000. Finally, LPL Financial LLC boosted its stake in shares of Microchip Technology by 9.9% in the first quarter. LPL Financial LLC now owns 127,968 shares of the company’s stock worth $6,225,000 after buying an additional 11,556 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Several analysts recently commented on MCHP shares. Stifel Nicolaus upped 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. B. Riley restated 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 upped their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG restated 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. upped their price objective on shares of Microchip Technology from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus 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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