Matthew Chapman Sells 10,000 Shares of Microchip Technology (NASDAQ:MCHP) Stock

Microchip Technology Incorporated (NASDAQ:MCHP) Director Matthew Chapman sold 10,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. This represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Microchip Technology Price Performance

MCHP opened at $93.43 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a fifty day simple moving average of $78.81 and a 200 day simple moving average of $71.54. The stock has a market cap of $50.56 billion, a P/E ratio of 444.93, a P/E/G ratio of 0.96 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

Hedge Funds Weigh In On Microchip Technology

Several hedge funds have recently modified their holdings of MCHP. AQR Capital Management LLC grew its holdings in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after acquiring an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 616 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after acquiring an additional 589 shares in the last quarter. AXA S.A. lifted its stake in Microchip Technology by 21.3% in the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after purchasing an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after purchasing an additional 3,851 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MCHP shares. Rosenblatt Securities increased their target price on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus set a $90.00 target price on Microchip Technology in a report on Friday, February 6th. Wells Fargo & Company increased their target price on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Mizuho increased their target price on Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Citigroup increased their target price on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.52.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.