Insider Selling: Microchip Technology Incorporated (NASDAQ:MCHP) VP Sells 2,529 Shares of Stock

Microchip Technology Incorporated (NASDAQ:MCHP) VP Mitchell R. Little sold 2,529 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $145.79, for a total transaction of $368,702.91. Following the completion of the sale, the vice president now owns 6,235 shares of the company’s stock, valued at $909,000.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ MCHP traded down $6.34 during trading hours on Wednesday, reaching $139.17. 113,873 shares of the company’s stock were exchanged, compared to its average volume of 2,112,990. The company’s 50-day moving average is $154.71 and its two-hundred day moving average is $143.65. Microchip Technology Incorporated has a one year low of $81.09 and a one year high of $166.67. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.74 and a current ratio of 1.07. The company has a market capitalization of $37.47 billion, a price-to-earnings ratio of 62.18, a price-to-earnings-growth ratio of 1.74 and a beta of 1.69.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 6th. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $1.46 EPS. Microchip Technology’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Microchip Technology Incorporated will post 5.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 4th. Stockholders of record on Friday, May 21st will be paid a dividend of $0.413 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 30.12%.

A number of equities analysts recently issued reports on MCHP shares. Raymond James boosted their target price on shares of Microchip Technology from $140.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 19th. Mizuho boosted their target price on shares of Microchip Technology from $158.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, May 7th. Longbow Research raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Monday, March 29th. Rosenblatt Securities boosted their target price on shares of Microchip Technology from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 7th. Finally, TheStreet raised shares of Microchip Technology from a “c+” rating to a “b” rating in a research report on Thursday, May 6th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $154.55.

Institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB grew its stake in shares of Microchip Technology by 7.3% during the 1st quarter. Handelsbanken Fonder AB now owns 64,076 shares of the semiconductor company’s stock worth $9,946,000 after acquiring an additional 4,358 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Microchip Technology by 7.2% in the 4th quarter. California Public Employees Retirement System now owns 598,685 shares of the semiconductor company’s stock valued at $82,684,000 after buying an additional 40,233 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Microchip Technology by 19.2% in the 4th quarter. IFM Investors Pty Ltd now owns 23,779 shares of the semiconductor company’s stock valued at $3,284,000 after buying an additional 3,834 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. boosted its holdings in shares of Microchip Technology by 680.3% in the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 140,458 shares of the semiconductor company’s stock valued at $19,399,000 after buying an additional 122,458 shares during the last quarter. Finally, Breakline Capital LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $2,464,000. 94.10% of the stock is owned by institutional investors.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

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