Insider Selling: Microchip Technology (NASDAQ:MCHP) CFO Sells $67,177.62 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the transaction, the chief financial officer owned 30,960 shares of the company’s stock, valued at $2,484,849.60. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

James Eric Bjornholt also recently made the following trade(s):

• On Friday, May 22nd, James Eric Bjornholt sold 3,667 shares of Microchip Technology stock. The stock was sold at an average price of $90.87, for a total value of $333,220.29.

Microchip Technology Trading Down 1.4%

Shares of NASDAQ:MCHP traded down $1.11 during midday trading on Wednesday, reaching $77.08. The company’s stock had a trading volume of 8,831,581 shares, compared to its average volume of 10,546,990. The firm has a market cap of $41.86 billion, a price-to-earnings ratio of 115.05, a price-to-earnings-growth ratio of 0.62 and a beta of 1.76. The business has a 50 day moving average price of $85.23 and a 200 day moving average price of $81.54. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s payout ratio is currently 271.64%.

Hedge Funds Weigh In On Microchip Technology

A number of institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new position in shares of Microchip Technology during the second quarter worth about $31,000. Rakuten Securities Inc. acquired a new position in Microchip Technology in the second quarter worth about $34,000. PenderFund Capital Management Ltd. bought a new stake in Microchip Technology in the second quarter valued at about $36,000. Finally, EFG International AG acquired a new stake in Microchip Technology during the fourth quarter valued at approximately $29,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCHP. Truist Financial reduced their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Zacks Research lowered Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Monday. Finally, UBS Group reissued a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $98.85.

About Microchip Technology

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.