Insider Selling: Microchip Technology (NASDAQ:MCHP) Director Sells $954,800.00 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 10,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at $1,973,094.20. The trade was a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Microchip Technology Price Performance

MCHP opened at $93.43 on Friday. The stock has a fifty day moving average of $78.81 and a 200-day moving average of $71.54. The firm has a market capitalization of $50.56 billion, a P/E ratio of 444.93, a PEG ratio of 0.98 and a beta of 1.75. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last released its 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. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders 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 dividend yield of 1.9%. Microchip Technology’s dividend payout ratio is presently 866.67%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MCHP shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Mizuho upped their price target on shares of Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.52.

Hedge Funds Weigh In On Microchip Technology

Several hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in Microchip Technology during the first quarter worth $104,000. Oddo BHF Asset Management Sas acquired a new position in Microchip Technology during the first quarter worth $3,061,000. Strategic Investment Advisors MI increased its position in Microchip Technology by 6.1% during the first quarter. Strategic Investment Advisors MI now owns 6,252 shares of the semiconductor company’s stock worth $404,000 after buying an additional 360 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Microchip Technology by 37.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,062 shares of the semiconductor company’s stock worth $327,000 after buying an additional 1,383 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Microchip Technology by 14.7% during the first quarter. Empowered Funds LLC now owns 59,518 shares of the semiconductor company’s stock worth $3,845,000 after buying an additional 7,631 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Company Profile

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.