Rep. Julie Johnson Sells Microchip Technology Incorporated (NASDAQ:MCHP) Stock

Representative Julie Johnson (D-Texas) recently sold shares of Microchip Technology Incorporated (NASDAQ:MCHP). In a filing disclosed on March 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Microchip Technology stock on February 5th. The trade occurred in the Representative’s “CHASE BROKERAGE ACCOUNT (3935)” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/14/2025.

Microchip Technology Price Performance

Shares of MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The business’s fifty day moving average is $56.59 and its 200 day moving average is $65.97. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a market cap of $27.91 billion, a P/E ratio of 92.66 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MCHP shares. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Mizuho increased their price target on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. TD Cowen increased their price target on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.37.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Metis Global Partners LLC boosted its stake in Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares during the period. Plato Investment Management Ltd boosted its stake in Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the period. Federated Hermes Inc. boosted its stake in Microchip Technology by 0.5% in the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock worth $2,254,000 after purchasing an additional 209 shares during the period. Northwest Bank & Trust Co boosted its stake in Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 217 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in Microchip Technology by 0.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 26,475 shares of the semiconductor company’s stock worth $2,126,000 after purchasing an additional 218 shares during the period. Institutional investors own 91.51% of the company’s stock.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.