Microchip Technology (NASDAQ:MCHP) CFO Sells $309,715.84 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Eric Bjornholt also recently made the following trade(s):

• On Monday, August 17th, James Eric Bjornholt sold 837 shares of Microchip Technology stock. The stock was sold at an average price of $80.26, for a total transaction of $67,177.62.

Microchip Technology Stock Up 0.7%

Shares of NASDAQ:MCHP traded up $0.55 during midday trading on Wednesday, reaching $74.05. The company’s stock had a trading volume of 6,223,328 shares, compared to its average volume of 10,494,195. The firm has a market capitalization of $40.21 billion, a P/E ratio of 110.52, a PEG ratio of 0.51 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The firm has a 50 day moving average of $82.92 and a 200-day moving average of $81.43.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in Microchip Technology by 9,307.4% in the 2nd quarter. California State Teachers Retirement System now owns 74,723,990 shares of the semiconductor company’s stock valued at $6,814,828,000 after purchasing an additional 73,929,678 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after buying an additional 1,430,781 shares during the period. State Street Corp increased its position in shares of Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners raised its position in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares during the period. Finally, Geode Capital Management LLC lifted its position in Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after acquiring an additional 213,188 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective 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 raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Truist Financial lowered their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Finally, Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

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.