James Eric Bjornholt Sells 837 Shares of Microchip Technology (NASDAQ:MCHP) Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 837 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares of the company’s stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, May 22nd, James Eric Bjornholt sold 3,667 shares of Microchip Technology stock. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29.

Microchip Technology Trading Down 1.4%

Shares of MCHP stock traded down $1.11 during mid-day trading on Wednesday, reaching $77.08. The company’s stock had a trading volume of 8,831,581 shares, compared to its average volume of 10,546,990. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company’s 50 day simple moving average is $85.23 and its 200-day simple moving average is $81.54. The firm has a market capitalization of $41.86 billion, a PE ratio of 115.05, a price-to-earnings-growth ratio of 0.62 and a beta of 1.76.

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

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Institutional Investors Weigh In On Microchip Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MCHP. Wolverine Asset Management LLC boosted its stake in shares of Microchip Technology by 3,833.7% during the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after acquiring an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Microchip Technology in the 4th quarter valued at approximately $6,691,000. Epoch Investment Partners Inc. raised its holdings in Microchip Technology by 16.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after purchasing an additional 191,339 shares during the last quarter. Peregrine Investment Management Inc. purchased a new stake in Microchip Technology during the first quarter worth $5,492,000. Finally, Norges Bank acquired a new stake in Microchip Technology in the fourth quarter valued at $664,564,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MCHP shares. TD Cowen reduced their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Truist Financial cut their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Barclays upped their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Needham & Company LLC upped their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $98.85.

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.