Microchip Technology (NASDAQ:MCHP) CFO James Eric Bjornholt Sells 4,112 Shares of Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, James Eric Bjornholt sold 837 shares of Microchip Technology stock. The stock was sold at an average price of $80.26, for a total transaction of $67,177.62.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $74.05 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The firm has a market cap of $40.21 billion, a P/E ratio of 110.52, a P/E/G ratio of 0.51 and a beta of 1.76. The firm’s 50 day moving average price is $82.92 and its 200-day moving average price is $81.43. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is 271.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MCHP. TOP Private Wealth LLC. purchased a new position in shares of Microchip Technology during the second quarter worth about $29,000. EFG International AG purchased a new stake in Microchip Technology during the 4th quarter valued at approximately $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the 4th quarter valued at approximately $29,000. Continuum Advisory LLC purchased a new stake in Microchip Technology during the 2nd quarter valued at approximately $30,000. Finally, Johnson Financial Group Inc. acquired a new stake in Microchip Technology during the 2nd quarter worth approximately $31,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MCHP shares. JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Friday, August 7th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Susquehanna boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Finally, TD Cowen dropped their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.67.

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.