Microchip Technology Inc. (NASDAQ:MCHP) Director L B. Day sold 3,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $84.82, for a total value of $296,870.00. Following the completion of the transaction, the director now directly owns 9,238 shares in the company, valued at approximately $783,567.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ MCHP opened at $86.10 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92. Microchip Technology Inc. has a 52 week low of $60.70 and a 52 week high of $104.20. The stock has a market capitalization of $20.40 billion, a PE ratio of 16.59, a P/E/G ratio of 1.09 and a beta of 1.24.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.45 by $0.21. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 42.5% compared to the same quarter last year. On average, equities analysts predict that Microchip Technology Inc. will post 5.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were paid a $0.365 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.70%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.
A number of research analysts have weighed in on the company. Cowen assumed coverage on Microchip Technology in a report on Friday, February 22nd. They issued a “market perform” rating and a $90.00 target price on the stock. BidaskClub raised Microchip Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 30th. Citigroup reissued a “buy” rating and issued a $105.00 target price on shares of Microchip Technology in a report on Thursday, February 7th. Zacks Investment Research raised Microchip Technology from a “sell” rating to a “hold” rating in a report on Monday, December 10th. Finally, ValuEngine raised Microchip Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Microchip Technology currently has an average rating of “Buy” and a consensus target price of $102.17.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Clarfeld Financial Advisors LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $26,000. Oregon Public Employees Retirement Fund raised its stake in Microchip Technology by 7,043.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 1,815,732 shares during the period. Morgan Dempsey Capital Management LLC bought a new stake in Microchip Technology during the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC bought a new stake in Microchip Technology during the 4th quarter valued at approximately $32,000. Finally, Enlightenment Research LLC bought a new stake in Microchip Technology during the 4th quarter valued at approximately $43,000.
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About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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