Microchip Technology Incorporated (NASDAQ:MCHP) has earned a consensus rating of “Buy” from the twenty research firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $84.71.

A number of analysts have weighed in on MCHP shares. B. Riley reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Monday, May 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $100.00 price target on shares of Microchip Technology in a report on Wednesday, May 10th. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Citigroup Inc. set a $95.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a report on Wednesday, May 10th. Finally, ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, June 1st.

In other news, CFO James Eric Bjornholt sold 2,510 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 3,974 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $80.29, for a total transaction of $319,072.46. Following the sale, the vice president now directly owns 14,263 shares of the company’s stock, valued at $1,145,176.27. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Large investors have recently bought and sold shares of the company. Fenimore Asset Management Inc. increased its stake in Microchip Technology by 0.7% in the first quarter. Fenimore Asset Management Inc. now owns 916,163 shares of the semiconductor company’s stock valued at $67,595,000 after buying an additional 6,738 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Microchip Technology by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 66,547 shares of the semiconductor company’s stock valued at $4,909,000 after buying an additional 1,000 shares during the last quarter. GW&K Investment Management LLC increased its stake in Microchip Technology by 2.0% in the first quarter. GW&K Investment Management LLC now owns 791,993 shares of the semiconductor company’s stock valued at $58,433,000 after buying an additional 15,525 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in Microchip Technology by 7.1% in the first quarter. Chesley Taft & Associates LLC now owns 12,713 shares of the semiconductor company’s stock valued at $938,000 after buying an additional 838 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new stake in Microchip Technology during the first quarter valued at approximately $214,000. 98.67% of the stock is owned by institutional investors.

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Microchip Technology (NASDAQ:MCHP) traded up 1.38% on Friday, reaching $84.64. The company’s stock had a trading volume of 735,643 shares. Microchip Technology has a 12 month low of $55.84 and a 12 month high of $87.49. The firm’s 50 day moving average is $80.29 and its 200-day moving average is $76.10. The firm has a market cap of $19.42 billion, a P/E ratio of 120.06 and a beta of 1.06.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The firm had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, equities research analysts anticipate that Microchip Technology will post $5.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a $0.362 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 17th. Microchip Technology’s payout ratio is 77.54%.

Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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