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Microchip Technology (NASDAQ:MCHP) VP Stephen V. Drehobl sold 4,067 shares of Microchip Technology stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $47.60, for a total value of $193,589.20. Following the sale, the vice president now directly owns 12,503 shares in the company, valued at approximately $595,143. The transaction was disclosed in a filing with the SEC, which is available at this link.

Several analysts have recently commented on the stock. Analysts at B. Riley reiterated a “neutral” rating on shares of Microchip Technology in a research note on Friday, August 1st. They now have a $50.00 price target on the stock, up previously from $45.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Microchip Technology in a research note on Friday, August 1st. They now have a $47.00 price target on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Microchip Technology from $55.00 to $57.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.45.

Shares of Microchip Technology (NASDAQ:MCHP) traded down 0.05% on Friday, hitting $47.765. The stock had a trading volume of 1,033,155 shares. Microchip Technology has a 52-week low of $38.44 and a 52-week high of $50.04. The stock’s 50-day moving average is $47.41 and its 200-day moving average is $47.17. The company has a market cap of $9.572 billion and a price-to-earnings ratio of 25.89.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.01. The company had revenue of $531.30 million for the quarter, compared to the consensus estimate of $527.59 million. During the same quarter last year, the company posted $0.57 earnings per share. Microchip Technology’s revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that Microchip Technology will post $2.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.356 per share. This represents a $1.42 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Tuesday, August 19th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36.

Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications.

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