Matthew Chapman Sells 3,000 Shares of Microchip Technology (NASDAQ:MCHP) Stock

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Microchip Technology Price Performance

MCHP stock opened at $94.65 on Friday. The firm has a 50 day moving average price of $82.04 and a 200-day moving average price of $72.80. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The firm has a market capitalization of $51.31 billion, a price-to-earnings ratio of 450.74, a PEG ratio of 1.00 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09.

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

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

Institutional Trading of Microchip Technology

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 616 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after purchasing an additional 589 shares during the period. AXA S.A. lifted its stake in shares of Microchip Technology by 21.3% in the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after purchasing an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after purchasing an additional 3,851 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Microchip Technology from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Citigroup increased their price objective on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. KeyCorp reissued an “overweight” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Friday, February 6th. Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a research report on Wednesday, February 4th. Finally, Barclays increased their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.

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.