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 Microchip Technology stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $67,177.62.

Microchip Technology Stock Down 3.4%

MCHP opened at $72.93 on Friday. The business has a 50 day moving average of $81.90 and a 200-day moving average of $81.37. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 108.85, a P/E/G ratio of 0.53 and a beta of 1.76. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. Microchip Technology’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCHP shares. Susquehanna lifted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Needham & Company LLC increased their price objective on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. UBS Group reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Hedge Funds Weigh In On Microchip Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Microchip Technology by 9,307.4% in the second 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. increased its holdings in Microchip Technology by 2.0% in 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 raised its position in shares of Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after buying an additional 783,157 shares in the last quarter. Boston Partners raised its position in shares of Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after buying an additional 1,406,885 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 during the period. Institutional investors own 91.51% of the company’s stock.

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.