Microchip Technology Inc. (MCHP) To Go Ex-Dividend on November 20th

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.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,937 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $171,618.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard J. Simoncic sold 3,437 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total transaction of $304,518.20. Following the completion of the transaction, the vice president now owns 18,178 shares of the company’s stock, valued at approximately $1,610,570.80. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

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.

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Dividend History for Microchip Technology (NASDAQ:MCHP)

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