Microchip Technology (NASDAQ:MCHP) Director Matthew Chapman Sells 10,000 Shares

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Microchip Technology Stock Performance

MCHP stock traded down $2.91 during midday trading on Thursday, hitting $91.11. 8,593,825 shares of the company traded hands, compared to its average volume of 9,745,035. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The business has a 50 day simple moving average of $78.26 and a 200-day simple moving average of $71.39. The stock has a market capitalization of $49.30 billion, a price-to-earnings ratio of 433.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.75.

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

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, May 22nd. Microchip Technology’s payout ratio is currently 866.67%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCHP. Stifel Nicolaus set a $90.00 target price on Microchip Technology in a research report on Friday, February 6th. Rosenblatt Securities lifted their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Mizuho increased their target price on Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.52.

Hedge Funds Weigh In On Microchip Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MCHP. Winnow Wealth LLC acquired a new stake in Microchip Technology during the 3rd quarter worth $25,000. Root Financial Partners LLC acquired a new position in Microchip Technology in the third quarter valued at about $28,000. EFG International AG acquired a new position in Microchip Technology in the fourth quarter valued at about $29,000. Miller Capital Partners Inc. bought a new stake in shares of Microchip Technology in the fourth quarter worth about $29,000. Finally, Reflection Asset Management acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $33,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Company Profile

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.