Microchip Technology Inc. (NASDAQ:MCHP) Director L B. Day sold 3,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the sale, the director now owns 9,238 shares of the company’s stock, valued at approximately $783,567.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NASDAQ:MCHP traded down $1.06 during mid-day trading on Thursday, hitting $84.00. 2,001,575 shares of the company’s stock traded hands, compared to its average volume of 2,949,127. The company has a market capitalization of $20.45 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24. Microchip Technology Inc. has a 1 year low of $60.70 and a 1 year high of $104.20. The company has a current ratio of 2.92, a quick ratio of 1.83 and a debt-to-equity ratio of 2.04.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.21. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The company’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts predict that Microchip Technology Inc. will post 5.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st were issued a dividend of $0.365 per share. The ex-dividend date of this dividend was Wednesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.74%. Microchip Technology’s payout ratio is 28.13%.

Several analysts have recently commented on the stock. BidaskClub cut shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Cowen started coverage on shares of Microchip Technology in a research note on Friday, February 22nd. They issued a “market perform” rating and a $90.00 target price for the company. TheStreet upgraded shares of Microchip Technology from a “c+” rating to a “b-” rating in a report on Thursday, February 21st. Finally, ValuEngine upgraded shares of Microchip Technology from a “strong sell” rating to a “sell” rating in a report on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $102.17.

Hedge funds and other institutional investors have recently modified their holdings of the company. Clarfeld Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $26,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $28,000. Lindbrook Capital LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $32,000. Enlightenment Research LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $43,000. Finally, JOYN Advisors Inc. grew its holdings in shares of Microchip Technology by 323.6% during the fourth quarter. JOYN Advisors Inc. now owns 610 shares of the semiconductor company’s stock worth $44,000 after buying an additional 466 shares in the last quarter.

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Microchip Technology Company Profile

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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