Matthew W. Chapman Sells 1,000 Shares of Microchip Technology Incorporated (NASDAQ:MCHP) Stock

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew W. Chapman sold 1,000 shares of the firm’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $82.75, for a total transaction of $82,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NASDAQ:MCHP opened at $83.91 on Thursday. Microchip Technology Incorporated has a twelve month low of $64.53 and a twelve month high of $87.52. The company has a quick ratio of 1.28, a current ratio of 1.92 and a debt-to-equity ratio of 1.44. The business has a 50 day moving average price of $102.84 and a two-hundred day moving average price of $84.42. The company has a market cap of $46.56 billion, a P/E ratio of 73.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.58.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, November 4th. The semiconductor company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Microchip Technology had a return on equity of 35.06% and a net margin of 10.72%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 4.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 3rd. Stockholders of record on Friday, November 19th will be issued a $0.232 dividend. This represents a $0.93 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, November 18th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.22. Microchip Technology’s dividend payout ratio is presently 81.22%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC bought a new stake in Microchip Technology in the 2nd quarter valued at $25,000. SOA Wealth Advisors LLC. raised its stake in Microchip Technology by 86.1% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 188 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 87 shares during the period. Assetmark Inc. raised its stake in Microchip Technology by 45.7% in the 2nd quarter. Assetmark Inc. now owns 220 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 69 shares during the period. Cedar Wealth Management LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $35,000. Finally, Financial Management Professionals Inc. raised its stake in Microchip Technology by 126.2% in the 3rd quarter. Financial Management Professionals Inc. now owns 242 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 135 shares during the period. 44.56% of the stock is owned by institutional investors.

Several research analysts have commented on MCHP shares. UBS Group started coverage on shares of Microchip Technology in a report on Wednesday, October 13th. They issued a “neutral” rating for the company. Stifel Nicolaus assumed coverage on shares of Microchip Technology in a research report on Thursday, October 14th. They set a “hold” rating and a $76.00 target price on the stock. Mizuho boosted their target price on shares of Microchip Technology from $81.50 to $85.00 and gave the company a “neutral” rating in a research note on Friday, November 5th. B. Riley upped their price target on shares of Microchip Technology from $97.50 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Finally, Susquehanna boosted their price objective on Microchip Technology from $95.00 to $97.50 and gave the stock a “positive” rating in a report on Wednesday, August 4th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $95.74.

About Microchip Technology

Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.

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