Microchip Technology (NASDAQ:MCHP) COO Sells $467,200.00 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) COO Richard Simoncic sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $93.44, for a total transaction of $467,200.00. Following the sale, the chief operating officer owned 135,508 shares of the company’s stock, valued at approximately $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Microchip Technology Trading Up 4.9%

NASDAQ:MCHP traded up $4.62 on Tuesday, hitting $98.05. The stock had a trading volume of 13,086,111 shares, compared to its average volume of 9,769,647. The company has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $72.11. 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 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The stock has a market cap of $53.06 billion, a price-to-earnings ratio of 466.93, a PEG ratio of 0.98 and a beta of 1.75.

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

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a $0.455 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s payout ratio is currently 866.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, January 28th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. Susquehanna increased 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. Wells Fargo & Company lifted their price target on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average target price of $97.52.

Institutional Investors Weigh In On Microchip Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Western Wealth Management LLC acquired a new position in Microchip Technology in the 1st quarter valued at about $104,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Microchip Technology during the first quarter worth about $3,061,000. Strategic Investment Advisors MI boosted its stake in shares of Microchip Technology by 6.1% in the first quarter. Strategic Investment Advisors MI now owns 6,252 shares of the semiconductor company’s stock valued at $404,000 after purchasing an additional 360 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Microchip Technology by 37.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,062 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 1,383 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Microchip Technology by 14.7% in the first quarter. Empowered Funds LLC now owns 59,518 shares of the semiconductor company’s stock valued at $3,845,000 after purchasing an additional 7,631 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.