Microchip Technology Target of Unusually High Options Trading (MCHP)
Microchip Technology Incorporated (NASDAQ:MCHP) was the recipient of unusually large options trading activity on Tuesday. Traders bought 2,902 put options on the stock. This is an increase of approximately Infinity compared to the average volume of 0 put options.
In related news, Director Wade F. Meyercord sold 1,300 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,829 shares of company stock worth $561,905. Insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in Microchip Technology by 2,959.9% in the second quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock worth $623,093,000 after purchasing an additional 7,809,422 shares during the period. Principal Financial Group Inc. grew its holdings in Microchip Technology by 66.5% in the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock worth $484,434,000 after purchasing an additional 2,507,707 shares during the period. Fred Alger Management Inc. grew its holdings in Microchip Technology by 80.9% in the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after purchasing an additional 1,497,699 shares during the period. Vanguard Group Inc. grew its holdings in Microchip Technology by 4.6% in the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after purchasing an additional 1,042,622 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Microchip Technology by 75.5% in the second quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock worth $185,475,000 after purchasing an additional 1,033,992 shares during the period.
Microchip Technology (NASDAQ MCHP) opened at $91.56 on Friday. The company has a market cap of $21,416.34, a PE ratio of 19.40, a PEG ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.54 and a current ratio of 3.33. Microchip Technology has a one year low of $60.77 and a one year high of $95.92.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.27 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. sell-side analysts predict that Microchip Technology will post 5.12 EPS for the current 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 given a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.45 annualized dividend and a dividend yield of 1.58%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is currently 58.00%.
MCHP has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $106.00 price target on shares of Microchip Technology in a report on Thursday, October 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, October 12th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price objective on shares of Microchip Technology in a research note on Wednesday, September 20th. Argus initiated coverage on shares of Microchip Technology in a research note on Friday, October 6th. They issued a “buy” rating and a $106.00 price objective for the company. Finally, B. Riley reiterated a “buy” rating and issued a $123.00 price objective (up from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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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