Microchip Technology (NASDAQ:MCHP) COO Richard Simoncic Sells 5,000 Shares

Microchip Technology Incorporated (NASDAQ:MCHP) COO Richard Simoncic sold 5,000 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total value of $467,200.00. Following the transaction, the chief operating officer owned 135,508 shares of the company’s stock, valued at $12,661,867.52. The trade was a 3.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Microchip Technology Stock Up 4.9%

Shares of NASDAQ:MCHP opened at $98.05 on Wednesday. The stock has a fifty day simple moving average of $80.15 and a two-hundred day simple moving average of $72.11. The stock has a market capitalization of $53.15 billion, a price-to-earnings ratio of 466.93, a PEG ratio of 0.98 and a beta of 1.75. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (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 return on equity of 10.87% and a net margin of 4.88%.The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a $0.455 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 1.9%. Microchip Technology’s payout ratio is currently 866.67%.

Institutional Trading of Microchip Technology

Several large investors have recently modified their holdings of the company. Resonant Capital Advisors LLC grew its holdings in shares of Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after acquiring an additional 118 shares during the period. MCF Advisors LLC grew its holdings in shares of Microchip Technology by 25.8% in the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares during the period. Gagnon Securities LLC grew its holdings in Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after purchasing an additional 137 shares during the period. Evelyn Partners Investment Management LLP grew its holdings in Microchip Technology by 1.5% during the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 140 shares during the period. Finally, Millstone Evans Group LLC grew its holdings in Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 142 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCHP shares. Needham & Company LLC boosted their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group boosted their price target on Microchip Technology from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Argus upgraded Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.52.

Microchip Technology Company Profile

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.