Microchip Technology (NASDAQ:MCHP) COO Sells $487,600.00 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) COO Richard Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Microchip Technology Price Performance

Microchip Technology stock traded up $3.03 during mid-day trading on Monday, hitting $91.37. 13,896,881 shares of the company traded hands, compared to its average volume of 9,976,158. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The stock has a market cap of $49.53 billion, a price-to-earnings ratio of 435.12, a price-to-earnings-growth ratio of 0.93 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The stock has a fifty day moving average price of $85.00 and a 200-day moving average price of $74.33.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s payout ratio is presently 866.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Susquehanna lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, Argus raised shares of Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.52.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EFG International AG purchased a new position in shares of Microchip Technology in the fourth quarter worth $29,000. Miller Capital Partners Inc. purchased a new position in Microchip Technology during the 4th quarter valued at $29,000. Garton & Associates Financial Advisors LLC purchased a new position in Microchip Technology during the 4th quarter valued at $33,000. Reflection Asset Management purchased a new position in Microchip Technology during the 4th quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 513 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.