Steve Sanghi Sells 33,502 Shares of Microchip Technology (NASDAQ:MCHP) Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CEO Steve Sanghi sold 33,502 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $92.37, for a total value of $3,094,579.74. Following the completion of the sale, the chief executive officer owned 9,462,303 shares of the company’s stock, valued at approximately $874,032,928.11. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steve Sanghi also recently made the following trade(s):

• On Friday, May 1st, Steve Sanghi sold 76,469 shares of Microchip Technology stock. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02.
• On Thursday, April 23rd, Steve Sanghi sold 416,581 shares of Microchip Technology stock. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93.

Microchip Technology Stock Up 1.4%

Microchip Technology stock traded up $1.30 during midday trading on Monday, reaching $95.25. The company’s stock had a trading volume of 8,361,171 shares, compared to its average volume of 9,369,521. The stock’s 50-day simple moving average is $71.81 and its 200-day simple moving average is $68.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology Incorporated has a 52-week low of $46.68 and a 52-week high of $96.22. The stock has a market capitalization of $51.54 billion, a P/E ratio of -328.44, a PEG ratio of 1.26 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.16 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were paid a $0.455 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio (DPR) is -627.59%.

Institutional Investors Weigh In On Microchip Technology

Several hedge funds have recently bought and sold shares of the stock. Winnow Wealth LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $28,000. EFG International AG acquired a new stake in Microchip Technology during the fourth quarter valued at $29,000. Miller Capital Partners Inc. acquired a new stake in Microchip Technology during the fourth quarter valued at $29,000. Finally, Salomon & Ludwin LLC increased its holdings in Microchip Technology by 219.3% in the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of a number of research analyst reports. Wolfe Research set a $85.00 price target on Microchip Technology in a research note on Tuesday, January 6th. UBS Group raised their price objective on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Rosenblatt Securities raised their price objective on Microchip Technology from $80.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Barclays began coverage on Microchip Technology in a research note on Thursday, February 12th. They issued an “equal weight” rating and a $80.00 price objective for the company. Finally, KeyCorp restated an “overweight” rating and issued a $85.00 price objective on shares of Microchip Technology in a research note on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.