A number of other research analysts also recently commented on MCHP. Mizuho dropped their price target on Microchip Technology from $75.00 to $72.00 in a research note on Tuesday. Stifel Nicolaus boosted their target price on Microchip Technology from $82.00 to $84.00 and gave the stock a hold rating in a research note on Friday, February 4th. StockNews.com downgraded Microchip Technology from a buy rating to a hold rating in a research note on Monday, May 9th. UBS Group boosted their target price on Microchip Technology from $98.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday, March 9th. Finally, Truist Financial lowered their target price on Microchip Technology from $94.00 to $79.00 and set a buy rating for the company in a research note on Friday, April 8th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $93.81.
MCHP stock opened at $67.03 on Tuesday. The company has a market cap of $37.27 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.56. The business has a 50-day simple moving average of $70.10 and a 200 day simple moving average of $76.49. Microchip Technology has a 52 week low of $63.34 and a 52 week high of $90.00. The company has a quick ratio of 1.18, a current ratio of 1.75 and a debt-to-equity ratio of 1.30.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be issued a $0.276 dividend. The ex-dividend date is Thursday, May 19th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.65%. Microchip Technology’s dividend payout ratio is presently 44.59%.
In other Microchip Technology news, CFO James Eric Bjornholt sold 1,885 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total transaction of $133,703.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total value of $70,930.00. The disclosure for this sale can be found here. Insiders sold 6,498 shares of company stock worth $460,903 over the last quarter. 2.03% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of MCHP. Dodge & Cox lifted its holdings in shares of Microchip Technology by 87.3% in the 4th quarter. Dodge & Cox now owns 29,539,169 shares of the semiconductor company’s stock worth $2,571,680,000 after purchasing an additional 13,768,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Microchip Technology by 107.9% in the 4th quarter. Geode Capital Management LLC now owns 10,352,013 shares of the semiconductor company’s stock worth $898,949,000 after purchasing an additional 5,373,594 shares in the last quarter. Norges Bank bought a new position in shares of Microchip Technology in the 4th quarter worth $462,517,000. Principal Financial Group Inc. lifted its holdings in shares of Microchip Technology by 95.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,618,059 shares of the semiconductor company’s stock worth $934,445,000 after purchasing an additional 5,193,267 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Microchip Technology in the 1st quarter worth $309,618,000. Institutional investors own 89.36% of the company’s stock.
Microchip Technology Company Profile (Get Rating)
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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