Microchip Technology (NASDAQ:MCHP) Director Matthew Chapman Sells 3,000 Shares of Stock

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $94.65 on Friday. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The firm has a market capitalization of $51.31 billion, a price-to-earnings ratio of 450.74, a PEG ratio of 1.01 and a beta of 1.75. The business has a 50 day simple moving average of $82.04 and a 200-day simple moving average of $72.80.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.11 EPS. Microchip Technology’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCHP. Norges Bank purchased a new position in Microchip Technology during the 4th quarter worth $664,564,000. Barclays PLC grew its stake in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares during the last quarter. Holocene Advisors LP grew its stake in Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after buying an additional 2,049,249 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Microchip Technology by 41.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after buying an additional 1,803,945 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. Mizuho lifted their price objective on Microchip Technology from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 6th. UBS Group boosted their price target on Microchip Technology from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.52.

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.