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.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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