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

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 3,000 shares of Microchip Technology stock in a transaction 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 completion of the sale, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Microchip Technology Price Performance

Microchip Technology stock traded down $1.39 during trading on Friday, reaching $94.65. The company had a trading volume of 11,360,499 shares, compared to its average volume of 9,794,168. The firm’s 50-day simple moving average is $81.44 and its 200 day simple moving average is $72.65. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm has a market capitalization of $51.31 billion, a PE ratio of 450.74, a price-to-earnings-growth ratio of 1.02 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 quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $0.455 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCHP. Norges Bank purchased a new position in shares of Microchip Technology during the 4th quarter worth $664,564,000. Barclays PLC raised its holdings in shares of Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after acquiring an additional 5,590,210 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after acquiring an additional 2,257,932 shares during the period. Holocene Advisors LP raised its holdings in shares of Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after acquiring an additional 2,049,249 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Microchip Technology by 41.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after acquiring an additional 1,803,945 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 a number of research reports. Rosenblatt Securities raised their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Susquehanna raised their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. Mizuho raised their price objective on Microchip Technology from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings upgraded Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Four equities research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.52.

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.