Insider Selling: Microchip Technology (NASDAQ:MCHP) CEO Sells $1,465,912.80 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CEO Steve Sanghi sold 18,509 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $79.20, for a total value of $1,465,912.80. Following the transaction, the chief executive officer owned 10,021,133 shares of the company’s stock, valued at $793,673,733.60. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Microchip Technology Trading Up 0.1%

NASDAQ MCHP traded up $0.08 during mid-day trading on Monday, reaching $74.79. 7,778,245 shares of the stock were exchanged, compared to its average volume of 8,925,932. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20. The stock has a market cap of $40.42 billion, a P/E ratio of -166.20, a P/E/G ratio of 2.21 and a beta of 1.46. The stock has a 50 day simple moving average of $64.84 and a 200-day simple moving average of $65.26. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $79.50.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s payout ratio is presently -404.44%.

Institutional Investors Weigh In On Microchip Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Microchip Technology by 2.1% during the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after buying an additional 1,507,554 shares during the last quarter. State Street Corp increased its holdings in shares of Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock worth $2,244,016,000 after purchasing an additional 2,489,258 shares in the last quarter. Invesco Ltd. raised its stake in shares of Microchip Technology by 10.4% in the second quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock worth $1,298,506,000 after purchasing an additional 1,745,515 shares during the last quarter. Boston Partners lifted its holdings in shares of Microchip Technology by 9.5% during 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Microchip Technology by 2.4% during the second quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after buying an additional 343,210 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCHP. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Thursday. Susquehanna raised their target price on Microchip Technology from $75.00 to $90.00 and gave the stock a “positive” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Microchip Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Cantor Fitzgerald raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $85.00 in a report on Tuesday, December 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $81.27.

About Microchip Technology

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.