Microchip Technology Inc. (NASDAQ:MCHP) CFO James Eric Bjornholt sold 2,043 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $65.16, for a total value of $133,121.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Microchip Technology Inc. (NASDAQ:MCHP) remained flat at $66.11 on Thursday. 1,712,266 shares of the stock were exchanged. 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. The stock has a market capitalization of $14.28 billion, a PE ratio of 287.43 and a beta of 1.04.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 7th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. The firm had revenue of $873.80 million for the quarter, compared to analysts’ expectations of $860.96 million. The company’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be issued a dividend of $0.3605 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, November 17th. Microchip Technology’s dividend payout ratio is presently 720.00%.

Several equities analysts have weighed in on the company. Jefferies Group restated a “buy” rating and set a $72.00 price objective (up from $68.00) on shares of Microchip Technology in a research note on Thursday, November 10th. B. Riley restated a “buy” rating and set a $78.00 price objective on shares of Microchip Technology in a research note 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 objective on the stock in a research note on Friday, November 11th. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective (up from $70.00) on shares of Microchip Technology in a research note on Tuesday, November 8th. Finally, Bank of America Corp. upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, November 8th. Four research 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.61.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia increased its position in shares of Microchip Technology by 23.3% in the third quarter. Commonwealth Bank of Australia now owns 2,135 shares of the company’s stock worth $132,000 after buying an additional 404 shares during the last quarter. Liberty Capital Management Inc. acquired a new position in shares of Microchip Technology during the third quarter worth about $136,000. Mizuho Asset Management Co. Ltd. increased its position in shares of Microchip Technology by 118.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,734 shares of the company’s stock worth $139,000 after buying an additional 1,484 shares during the last quarter. Kernodle & Katon Asset Management Group LLC increased its position in shares of Microchip Technology by 3.9% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,357 shares of the company’s stock worth $146,000 after buying an additional 89 shares during the last quarter. Finally, Creative Planning increased its position in shares of Microchip Technology by 92.4% in the second quarter. Creative Planning now owns 3,079 shares of the company’s stock worth $156,000 after buying an additional 1,479 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

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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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