Trading Report: Today, 2,043 Shares of Microchip Technology Inc. (MCHP) Stock are sold by James Eric Bjornholt

Today, 2,043 Shares of Microchip Technology Inc. (MCHP) Stock are sold by James Eric Bjornholt

Microchip Technology Inc. (NASDAQ:MCHP) CFO James Eric Bjornholt sold 2,043 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $65.16, for a total transaction of $133,121.88. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Microchip Technology Inc. (NASDAQ:MCHP) opened at 66.11 on Friday. The stock has a market cap of $14.28 billion, a P/E ratio of 287.43 and a beta of 1.04. The stock’s 50 day moving average is $61.70 and its 200-day moving average is $57.01. Microchip Technology Inc. has a one year low of $39.01 and a one year high of $66.12.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, November 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.07. The firm earned $873.80 million during the quarter, compared to the consensus estimate of $860.96 million. Microchip Technology had a return on equity of 27.29% and a net margin of 1.77%. The firm’s quarterly revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, equities analysts forecast that Microchip Technology Inc. will post $3.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be issued a $0.3605 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.44 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, November 17th. Microchip Technology’s payout ratio is presently 720.00%.

A number of equities research analysts recently commented on the stock. Jefferies Group reiterated a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Microchip Technology in a report on Thursday, November 10th. B. Riley reiterated a “buy” rating and set a $78.00 price target on shares of Microchip Technology in a report on Sunday, November 13th. Zacks Investment Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating and set a $72.00 price target for the company in a report on Friday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Microchip Technology in a report on Tuesday, November 8th. Finally, Mizuho restated a “neutral” rating and issued a $67.00 price objective on shares of Microchip Technology in a report on Tuesday, November 8th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Microchip Technology presently has a consensus rating of “Buy” and an average target price of $64.61.

Hedge funds have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC increased its position in shares of Microchip Technology by 6.0% in the first quarter. Nuveen Asset Management LLC now owns 26,922 shares of the company’s stock worth $1,297,000 after buying an additional 1,524 shares in the last quarter. AMP Capital Investors Ltd increased its position in Microchip Technology by 20.6% in the first quarter. AMP Capital Investors Ltd now owns 66,646 shares of the company’s stock valued at $3,255,000 after buying an additional 11,400 shares during the period. Legal & General Group Plc raised its stake in shares of Microchip Technology by 0.8% in the first quarter. Legal & General Group Plc now owns 913,454 shares of the company’s stock worth $44,030,000 after buying an additional 7,332 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Microchip Technology during the first quarter worth approximately $320,000. Finally, LPL Financial LLC raised its stake in shares of Microchip Technology by 9.9% in the first quarter. LPL Financial LLC now owns 127,968 shares of the company’s stock worth $6,225,000 after buying an additional 11,556 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Microchip Technology Company Profile

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