Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) CEO Steve Sanghi sold 416,581 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the sale, the chief executive officer owned 9,495,805 shares of the company's stock, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Steve Sanghi also recently made the following trade(s):
- On Wednesday, January 28th, Steve Sanghi sold 98,814 shares of Microchip Technology stock. The shares were sold at an average price of $80.55, for a total transaction of $7,959,467.70.
Microchip Technology Stock Performance
Shares of Microchip Technology stock opened at $86.84 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a 52 week low of $44.17 and a 52 week high of $92.24. The firm's 50 day moving average is $71.17 and its two-hundred day moving average is $67.90. The firm has a market capitalization of $46.99 billion, a P/E ratio of -299.45, a P/E/G ratio of 1.20 and a beta of 1.49.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The company's revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Research analysts forecast that Microchip Technology Incorporated will post 1.16 EPS for the current fiscal year.
Microchip Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, February 23rd. Microchip Technology's dividend payout ratio is currently -627.59%.
Hedge Funds Weigh In On Microchip Technology
Several institutional investors have recently added to or reduced their stakes in MCHP. QRG Capital Management Inc. raised its stake in Microchip Technology by 43.4% during the 1st quarter. QRG Capital Management Inc. now owns 88,825 shares of the semiconductor company's stock valued at $5,739,000 after acquiring an additional 26,902 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Microchip Technology by 24.7% in the 1st quarter. HB Wealth Management LLC now owns 29,201 shares of the semiconductor company's stock valued at $1,887,000 after purchasing an additional 5,776 shares during the last quarter. Plimoth Trust Co. LLC increased its holdings in shares of Microchip Technology by 10.4% in the first quarter. Plimoth Trust Co. LLC now owns 11,099 shares of the semiconductor company's stock valued at $717,000 after purchasing an additional 1,050 shares during the period. World Investment Advisors increased its holdings in shares of Microchip Technology by 4.6% in the first quarter. World Investment Advisors now owns 20,524 shares of the semiconductor company's stock valued at $1,326,000 after purchasing an additional 908 shares during the period. Finally, Sierra Summit Advisors LLC raised its stake in shares of Microchip Technology by 4.8% during the first quarter. Sierra Summit Advisors LLC now owns 35,069 shares of the semiconductor company's stock worth $2,266,000 after purchasing an additional 1,611 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Mizuho boosted their target price on Microchip Technology from $83.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Bank of America upgraded Microchip Technology from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Wednesday, January 28th. Argus raised Microchip Technology to a "strong-buy" rating in a research report on Monday, February 9th. JPMorgan Chase & Co. boosted their price objective on Microchip Technology from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Finally, BNP Paribas Exane raised Microchip Technology from a "neutral" rating to an "outperform" rating and set a $90.00 price objective for the company in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.00.
Check Out Our Latest Research Report on MCHP
About Microchip Technology
(
Get Free Report)
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.
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