Insider Selling: Microchip Technology (NASDAQ:MCHP) CFO Sells $67,177.62 in Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $80.26, for a total value 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 $2,484,849.60. This represents a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $90.87, for a total value of $333,220.29.

Microchip Technology Price Performance

Microchip Technology stock opened at $76.08 on Friday. The firm has a market capitalization of $41.31 billion, a P/E ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The business has a 50-day moving average of $84.29 and a 200-day moving average of $81.49. 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 (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $0.27 EPS. Microchip Technology’s revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCHP shares. Barclays boosted their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Truist Financial dropped their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Susquehanna lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Monday, August 17th. Finally, TD Cowen lowered their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Institutional Investors Weigh In On Microchip Technology

Several institutional investors have recently added to or reduced their stakes in MCHP. Vanguard Group Inc. increased its holdings in Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares in the last quarter. State Street Corp lifted its holdings in shares of Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners boosted its position in shares of Microchip Technology by 9.5% during the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after buying an additional 1,406,885 shares during the period. Geode Capital Management LLC boosted its position in shares of Microchip Technology by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after buying an additional 213,188 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Microchip Technology by 4.8% during the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after buying an additional 684,561 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

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.