Microchip Technology Inc. (NASDAQ:MCHP) has been assigned a consensus rating of “Buy” from the twenty brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $115.88.

Several equities analysts have weighed in on the company. BidaskClub cut Microchip Technology from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. ValuEngine cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Needham & Company LLC lowered their target price on Microchip Technology from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $125.00 target price on shares of Microchip Technology in a research note on Sunday, August 12th. Finally, TheStreet cut Microchip Technology from an “a-” rating to a “c+” rating in a research note on Thursday, August 9th.

In other news, COO Ganesh Moorthy purchased 12,000 shares of Microchip Technology stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $84.10 per share, for a total transaction of $1,009,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,887 shares of Microchip Technology stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total value of $159,130.71. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group lifted its holdings in shares of Microchip Technology by 16.0% during the 2nd quarter. Schroder Investment Management Group now owns 463,455 shares of the semiconductor company’s stock valued at $41,915,000 after buying an additional 64,012 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in Microchip Technology by 1.8% in the 2nd quarter. WINTON GROUP Ltd now owns 162,647 shares of the semiconductor company’s stock worth $14,793,000 after purchasing an additional 2,859 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Microchip Technology by 95.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 32,475 shares of the semiconductor company’s stock worth $1,539,000 after purchasing an additional 15,821 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Microchip Technology by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 477,267 shares of the semiconductor company’s stock worth $43,407,000 after purchasing an additional 18,185 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in Microchip Technology by 13.6% in the 2nd quarter. Argent Trust Co now owns 6,017 shares of the semiconductor company’s stock worth $548,000 after purchasing an additional 721 shares during the last quarter.

NASDAQ:MCHP traded up $0.88 on Friday, hitting $84.35. 112,748 shares of the company’s stock traded hands, compared to its average volume of 3,114,183. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.32 and a quick ratio of 0.80. Microchip Technology has a 1 year low of $78.33 and a 1 year high of $104.20. The stock has a market cap of $19.61 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.13. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. equities research analysts anticipate that Microchip Technology will post 6.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were issued a dividend of $0.364 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.73%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, August 20th. Microchip Technology’s payout ratio is currently 28.13%.

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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Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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