Microchip Technology Incorporated (MCHP) To Go Ex-Dividend on November 20th
Microchip Technology Incorporated (NASDAQ:MCHP) announced a quarterly dividend on Monday, November 6th, RTT News reports. Investors of record on Tuesday, November 21st will be paid a dividend of 0.3625 per share by the semiconductor company on Tuesday, December 5th. This represents a $1.45 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, November 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36.
Microchip Technology has raised its dividend by an average of 0.6% annually over the last three years and has increased its dividend every year for the last 15 years. Microchip Technology has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Microchip Technology to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 26.9%.
Shares of Microchip Technology (NASDAQ:MCHP) opened at $91.01 on Wednesday. The company has a market cap of $21,290.07, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. Microchip Technology has a 1-year low of $60.77 and a 1-year high of $95.92.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.27 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. analysts expect that Microchip Technology will post 5.12 earnings per share for the current year.
A number of research firms have recently issued reports on MCHP. B. Riley reaffirmed a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $120.00 target price on shares of Microchip Technology in a report on Tuesday, November 7th. Mizuho reaffirmed a “neutral” rating and set a $84.00 target price (up previously from $80.00) on shares of Microchip Technology in a report on Wednesday, August 9th. Jefferies Group LLC upped their target price on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Finally, BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.41.
In other Microchip Technology news, VP Stephen V. Drehobl sold 3,076 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the transaction, the vice president now owns 14,263 shares of the company’s stock, valued at $1,167,997.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.
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.
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