Key Points
- Microchip Technology CFO James Eric Bjornholt sold 837 shares at an average price of $80.26, totaling $67,177.62. His remaining stake is 30,960 shares, worth approximately $2.48 million.
- Microchip reported quarterly earnings of $0.76 per share, beating estimates by $0.06, while revenue rose 38% year over year to $1.48 billion. Shares opened at $77.08, down 1.4%.
- The company declared a quarterly dividend of $0.455 per share, implying a 2.4% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.85.
Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) CFO James Eric Bjornholt sold 837 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares of the company's stock, valued at approximately $2,484,849.60. The trade was a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
James Eric Bjornholt also recently made the following trade(s):
- On Friday, May 22nd, James Eric Bjornholt sold 3,667 shares of Microchip Technology stock. The shares were sold at an average price of $90.87, for a total value of $333,220.29.
Microchip Technology Stock Down 1.4%
Shares of NASDAQ MCHP opened at $77.08 on Thursday. The stock has a market capitalization of $41.86 billion, a price-to-earnings ratio of 115.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.76. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a 50-day moving average price of $85.02 and a 200 day moving average price of $81.53. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology's revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal 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 paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology's dividend payout ratio is presently 271.64%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on MCHP. Needham & Company LLC increased their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Barclays increased their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Citigroup decreased their target price on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Finally, Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a "positive" rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.85.
View Our Latest Report on MCHP
Institutional Investors Weigh In On Microchip Technology
Several institutional investors and hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its position in shares of Microchip Technology by 3,833.7% in the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company's stock worth $2,416,000 after buying an additional 36,957 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $6,691,000. Epoch Investment Partners Inc. grew its position in shares of Microchip Technology by 16.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company's stock valued at $85,967,000 after buying an additional 191,339 shares during the last quarter. Peregrine Investment Management Inc. acquired a new stake in Microchip Technology during the first quarter worth about $5,492,000. Finally, Norges Bank acquired a new stake in Microchip Technology during the fourth quarter worth about $664,564,000. Hedge funds and other institutional investors own 91.51% of the company's stock.
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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