Microchip Technology Incorporated (NASDAQ:MCHP) Director Wade F. Meyercord sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total transaction of $109,135.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Microchip Technology Incorporated (MCHP) traded up 0.32% during midday trading on Tuesday, hitting $84.29. 1,688,083 shares of the stock traded hands. Microchip Technology Incorporated has a 52 week low of $57.52 and a 52 week high of $87.49. The stock has a market capitalization of $19.62 billion, a P/E ratio of 45.41 and a beta of 1.06. The firm has a 50-day moving average price of $80.70 and a 200-day moving average price of $77.18.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a $0.362 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 77.54%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCHP. Koch Industries Inc. bought a new position in Microchip Technology during the second quarter worth about $248,000. Keel Point LLC increased its position in Microchip Technology by 3.3% in the second quarter. Keel Point LLC now owns 3,694 shares of the semiconductor company’s stock worth $285,000 after buying an additional 119 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Microchip Technology during the second quarter worth about $1,007,000. Raymond James Financial Services Advisors Inc. increased its position in Microchip Technology by 8.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 625,729 shares of the semiconductor company’s stock worth $48,295,000 after buying an additional 50,090 shares during the last quarter. Finally, 361 Capital LLC increased its position in Microchip Technology by 35.3% in the second quarter. 361 Capital LLC now owns 48,830 shares of the semiconductor company’s stock worth $3,769,000 after buying an additional 12,730 shares during the last quarter. Institutional investors own 98.67% of the company’s stock.

Several brokerages recently weighed in on MCHP. Credit Suisse Group AG restated an “outperform” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Wednesday, June 7th. Mizuho restated a “neutral” rating and issued a $80.00 price objective (up from $75.00) on shares of Microchip Technology in a report on Wednesday, June 7th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. B. Riley restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Wednesday, August 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $102.00 price objective (up from $100.00) on shares of Microchip Technology in a report on Tuesday, June 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Buy” and an average price target of $88.80.

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.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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