Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt Sells 3,724 Shares

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $58.86 on Friday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a 50 day moving average of $56.94 and a 200-day moving average of $67.44. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.09%. Microchip Technology’s dividend payout ratio is 325.00%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCHP. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Evercore ISI reissued an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Susquehanna decreased their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Finally, Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Institutional Investors Weigh In On Microchip Technology

Hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Microchip Technology in the fourth quarter worth about $24,175,000. Capital A Wealth Management LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $123,000. LM Advisors LLC bought a new position in Microchip Technology in the 4th quarter worth approximately $651,000. B. Riley Wealth Advisors Inc. raised its position in Microchip Technology by 4.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,859 shares of the semiconductor company’s stock worth $393,000 after purchasing an additional 305 shares during the last quarter. Finally, Aurdan Capital Management LLC bought a new position in Microchip Technology in the 4th quarter valued at $6,674,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.