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.

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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.

Dividend History for Microchip Technology (NASDAQ:MCHP)

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