Microchip Technology Incorporated (NASDAQ:MCHP) VP Stephen V. Drehobl Sells 7,830 Shares

Microchip Technology Incorporated (NASDAQ:MCHPGet Free Report) VP Stephen V. Drehobl sold 7,830 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the sale, the vice president now directly owns 79,509 shares of the company’s stock, valued at $7,558,125.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Microchip Technology Trading Up 0.1 %

Shares of NASDAQ MCHP opened at $94.33 on Friday. The stock has a market cap of $50.98 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 3.29 and a beta of 1.60. The firm has a 50 day moving average price of $89.44 and a two-hundred day moving average price of $86.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $96.14.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was down 40.6% compared to the same quarter last year. As a group, equities analysts forecast that Microchip Technology Incorporated will post 2.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.452 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, May 21st. This represents a $1.81 annualized dividend and a dividend yield of 1.92%. Microchip Technology’s dividend payout ratio (DPR) is 51.87%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen lifted their target price on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Susquehanna raised their price target on Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Evercore ISI assumed coverage on Microchip Technology in a research note on Tuesday, April 16th. They set an “outperform” rating and a $106.00 target price on the stock. Finally, UBS Group lifted their price objective on shares of Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $99.39.

Check Out Our Latest Report on Microchip Technology

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. WealthPlan Investment Management LLC increased its stake in Microchip Technology by 4.0% in the first quarter. WealthPlan Investment Management LLC now owns 48,779 shares of the semiconductor company’s stock valued at $4,376,000 after purchasing an additional 1,885 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of Microchip Technology during the first quarter valued at approximately $1,674,000. Tidal Investments LLC grew its holdings in Microchip Technology by 17.7% during the first quarter. Tidal Investments LLC now owns 33,796 shares of the semiconductor company’s stock worth $3,028,000 after buying an additional 5,094 shares in the last quarter. California State Teachers Retirement System raised its position in Microchip Technology by 0.3% in the 1st quarter. California State Teachers Retirement System now owns 865,356 shares of the semiconductor company’s stock valued at $77,631,000 after buying an additional 2,440 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Microchip Technology by 76.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,143 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 3,531 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

About Microchip Technology

(Get Free Report)

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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