Today, 24,901 Shares of Microchip Technology Inc. (MCHP) Stock are sold by Steve Sanghi

Today, 24,901 Shares of Microchip Technology Inc. (MCHP) Stock are sold by Steve Sanghi
Microchip Technology Inc. (NASDAQ:MCHP) CEO Steve Sanghi sold 24,901 shares of Microchip Technology stock in a transaction on Friday, August 19th. The stock was sold at an average price of $61.55, for a total transaction of $1,532,656.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Steve Sanghi also recently made the following trade(s): On Wednesday, November 23rd, Steve Sanghi sold 49,901 shares of Microchip Technology stock. The shares were sold at an average price of $63.80, for a total transaction of $3,183,683.80. On Thursday, November 17th, Steve Sanghi sold 28,693 shares of Microchip Technology stock. The shares were sold at an average price of $65.41, for a total transaction of $1,876,809.13. On Wednesday, November 9th, Steve Sanghi sold 26,308 shares of Microchip Technology stock. The shares were sold at an average price of $64.20, for a total transaction of $1,688,973.60.

Microchip Technology Inc. (NASDAQ:MCHP) opened at 66.11 on Friday. Microchip Technology Inc. has a 52-week low of $39.01 and a 52-week high of $66.12. The company’s 50 day moving average is $61.70 and its 200 day moving average is $57.01. The firm has a market cap of $14.28 billion, a P/E ratio of 287.43 and a beta of 1.04.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Microchip Technology had a net margin of 1.77% and a return on equity of 27.29%. The firm had revenue of $873.80 million for the quarter, compared to analyst estimates of $860.96 million. During the same period last year, the business earned $0.66 EPS. Microchip Technology’s revenue for the quarter was up 56.2% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Inc. will post $3.62 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of MCHP. D.A. Davidson & CO. increased its position in shares of Microchip Technology by 0.5% in the third quarter. D.A. Davidson & CO. now owns 95,998 shares of the company’s stock valued at $5,962,000 after buying an additional 433 shares during the last quarter. Brinker Capital Inc. acquired a new position in shares of Microchip Technology during the third quarter valued at about $211,000. Price T Rowe Associates Inc. MD increased its position in shares of Microchip Technology by 19.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 20,786,371 shares of the company’s stock valued at $1,291,665,000 after buying an additional 3,405,285 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Microchip Technology during the third quarter valued at about $328,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of Microchip Technology during the third quarter valued at about $6,257,000. 98.61% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on MCHP shares. B. Riley reissued a “buy” rating and set a $74.00 price objective on shares of Microchip Technology in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating and set a $72.00 price objective on the stock in a report on Friday, November 11th. Mizuho reissued a “neutral” rating and set a $67.00 price objective on shares of Microchip Technology in a report on Tuesday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective (up from $70.00) on shares of Microchip Technology in a report on Tuesday, November 8th. Finally, Bank of America Corp. raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, November 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $64.61.

Microchip Technology Company Profile

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