Microchip Technology Inc. (NASDAQ:MCHP) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.366 per share by the semiconductor company on Thursday, December 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 20th.
Shares of Microchip Technology stock traded down $1.25 during trading hours on Monday, reaching $93.35. 28,786 shares of the company were exchanged, compared to its average volume of 2,170,188. Microchip Technology has a 1 year low of $65.67 and a 1 year high of $101.57. The stock’s fifty day moving average is $94.53 and its 200 day moving average is $90.09. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.60 and a current ratio of 0.90. The firm has a market cap of $22.37 billion, a PE ratio of 15.36, a PEG ratio of 2.15 and a beta of 1.44.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.13. Microchip Technology had a return on equity of 25.60% and a net margin of 7.15%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $1.81 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. Research analysts expect that Microchip Technology will post 4.77 earnings per share for the current year.
A number of research firms have recently weighed in on MCHP. Morgan Stanley upped their price objective on Microchip Technology from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Piper Jaffray Companies reiterated a “buy” rating on shares of Microchip Technology in a research note on Friday, October 25th. Wells Fargo & Co lowered their target price on shares of Microchip Technology from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Cfra set a $100.00 target price on shares of Microchip Technology and gave the stock a “hold” rating in a research note on Saturday, September 7th. Finally, Zacks Investment Research downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $105.66.
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.
Read More: What is a dividend reinvestment plan?
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.