Microchip Technology Inc. (NASDAQ:MCHP) has been given a consensus recommendation of “Buy” by the sixteen research firms that are currently covering the company. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $80.67.

A number of research analysts recently issued reports on the company. B. Riley restated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Saturday, February 18th. Macquarie restated a “neutral” rating and set a $72.00 price target (up previously from $67.00) on shares of Microchip Technology in a research note on Wednesday, February 8th. Stifel Nicolaus raised their price target on Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Mizuho restated a “neutral” rating and set a $72.00 price target (up previously from $67.00) on shares of Microchip Technology in a research note on Wednesday, February 8th. They noted that the move was a valuation call. Finally, Citigroup Inc set a $95.00 target price on Microchip Technology and gave the company a “buy” rating in a research note on Wednesday, May 10th.

In other news, CFO James Eric Bjornholt sold 2,557 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $72.48, for a total value of $185,331.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Sanghi sold 54,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $74.34, for a total value of $4,041,717.12. The disclosure for this sale can be found here. Insiders sold a total of 93,229 shares of company stock valued at $6,913,482 over the last three months. Insiders own 2.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. boosted its stake in Microchip Technology by 0.3% in the fourth quarter. Johnson Financial Group Inc. now owns 2,908 shares of the semiconductor company’s stock valued at $187,000 after buying an additional 9 shares in the last quarter. Keel Point LLC boosted its stake in Microchip Technology by 0.3% in the first quarter. Keel Point LLC now owns 3,575 shares of the semiconductor company’s stock valued at $264,000 after buying an additional 11 shares in the last quarter. Mission Wealth Management LLC boosted its stake in Microchip Technology by 0.7% in the first quarter. Mission Wealth Management LLC now owns 3,616 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 26 shares in the last quarter. Cleararc Capital Inc. boosted its stake in Microchip Technology by 0.8% in the first quarter. Cleararc Capital Inc. now owns 5,295 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 43 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in Microchip Technology by 0.7% in the fourth quarter. Hilltop Holdings Inc. now owns 6,529 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 48 shares in the last quarter.

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Shares of Microchip Technology (NASDAQ:MCHP) traded up 1.08% during mid-day trading on Friday, reaching $80.20. The company’s stock had a trading volume of 1,084,522 shares. The company has a 50 day moving average price of $75.54 and a 200 day moving average price of $69.73. The stock has a market capitalization of $17.86 billion, a P/E ratio of 113.76 and a beta of 1.08. Microchip Technology has a 12 month low of $47.81 and a 12 month high of $81.73.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $891.14 million. Microchip Technology had a return on equity of 30.26% and a net margin of 3.10%. The firm’s quarterly revenue was up 61.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. On average, equities research analysts anticipate that Microchip Technology will post $4.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be issued a $0.3615 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, May 19th. Microchip Technology’s dividend payout ratio (DPR) is currently 378.95%.

Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

5 Day Chart for NASDAQ:MCHP

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