Microchip Technology Inc. (NASDAQ:MCHP) CEO Steve Sanghi sold 24,901 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $61.55, for a total transaction of $1,532,656.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Wednesday, November 23rd, Steve Sanghi sold 49,901 shares of Microchip Technology stock. The shares were sold at an average price of $63.80, for a total transaction of $3,183,683.80.
  • 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 transaction of $1,876,809.13.
  • On Wednesday, November 9th, Steve Sanghi sold 26,308 shares of Microchip Technology stock. The shares were sold at an average price of $64.20, for a total transaction of $1,688,973.60.

Microchip Technology Inc. (NASDAQ:MCHP) traded up 0.82% during midday trading on Wednesday, hitting $66.11. 1,712,266 shares of the stock were exchanged. The firm’s 50 day moving average price is $61.71 and its 200 day moving average price is $57.01. Microchip Technology Inc. has a 12 month low of $39.01 and a 12 month high of $66.12. The company has a market cap of $14.28 billion, a PE ratio of 287.43 and a beta of 1.04.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.94 earnings per share 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 company earned $873.80 million during the quarter, compared to analyst estimates of $860.96 million. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, equities research analysts forecast that Microchip Technology Inc. will post $3.62 earnings per share for the current fiscal year.

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

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

A number of large investors have recently made changes to their positions in the stock. Davis R M Inc. raised its stake in shares of Microchip Technology by 1.1% in the second quarter. Davis R M Inc. now owns 584,802 shares of the company’s stock worth $29,685,000 after buying an additional 6,418 shares during the last quarter. Fenimore Asset Management Inc. raised its stake 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 in the last quarter. Legal & General Group Plc raised its stake 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 in the last quarter. RNC Capital Management LLC raised its stake 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 in the last quarter. Finally, LPL Financial LLC raised its stake 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 in the last quarter. Institutional investors own 98.61% of the company’s stock.

Several equities analysts have recently commented on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $67.00 price objective on shares of Microchip Technology in a research note on Tuesday, August 9th. Citigroup Inc. boosted their price target on shares of Microchip Technology from $54.00 to $64.00 and gave the company a “buy” 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. Jefferies Group reiterated a “buy” rating and set a $72.00 price target (up previously from $68.00) on shares of Microchip Technology in a research report on Thursday, November 10th. Finally, 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. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Microchip Technology currently has an average rating of “Buy” and an average target price of $64.61.

COPYRIGHT VIOLATION WARNING: “Steve Sanghi Sells 24,901 Shares of Microchip Technology Inc. (MCHP) Stock” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/23/steve-sanghi-sells-24901-shares-of-microchip-technology-inc-mchp-stock.html.

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

Receive News & Stock Ratings for Microchip Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Inc. and related stocks with our FREE daily email newsletter.