Microchip Technology (NASDAQ:MCHP) CFO Sells $333,220.29 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Microchip Technology Price Performance

MCHP traded up $4.62 during trading on Tuesday, hitting $98.05. The company’s stock had a trading volume of 13,086,111 shares, compared to its average volume of 9,769,647. 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 stock has a market capitalization of $53.06 billion, a price-to-earnings ratio of 466.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.75. The firm’s 50 day moving average price is $80.15 and its two-hundred day moving average price is $72.11. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.

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

Microchip Technology Announces Dividend

The business also recently disclosed 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 1.9%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MCHP shares. Wells Fargo & Company upped their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a report on Friday, February 6th. Finally, Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.

Institutional Investors Weigh In On Microchip Technology

Institutional investors have recently modified their holdings of the business. Winnow Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in Microchip Technology during the 3rd quarter worth $28,000. EFG International AG bought a new stake in shares of Microchip Technology during the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new stake in shares of Microchip Technology during the 4th quarter valued at $29,000. Finally, Reflection Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.