Microchip Technology Incorporated (MCHP) CFO James Eric Bjornholt Sells 1,801 Shares
Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 1,801 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $165,079.66. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Microchip Technology Incorporated (NASDAQ MCHP) traded up $0.57 during trading hours on Monday, hitting $90.97. 727,900 shares of the company were exchanged, compared to its average volume of 2,521,461. The company has a current ratio of 3.33, a quick ratio of 2.71 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $21,278.34, a price-to-earnings ratio of 19.27, a PEG ratio of 1.45 and a beta of 1.05. Microchip Technology Incorporated has a fifty-two week low of $60.77 and a fifty-two week high of $95.92.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. analysts forecast that Microchip Technology Incorporated will post 5.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be paid a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 58.00%.
Hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation increased its stake in Microchip Technology by 215.5% during the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 836 shares during the last quarter. Amica Retiree Medical Trust bought a new stake in Microchip Technology during the third quarter valued at $121,000. Grove Bank & Trust increased its stake in Microchip Technology by 15.8% during the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 190 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Microchip Technology during the third quarter valued at $146,000. Finally, Smithfield Trust Co. increased its stake in Microchip Technology by 0.4% during the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter.
A number of research analysts have recently commented on MCHP shares. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Tuesday, September 19th. B. Riley reissued a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Wednesday, August 9th. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Credit Suisse Group reissued a “buy” rating on shares of Microchip Technology in a research report on Friday, August 4th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Microchip Technology has an average rating of “Buy” and a consensus target price of $99.41.
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Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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