Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt Sells 3,724 Shares of Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Microchip Technology Price Performance

Microchip Technology stock opened at $57.12 on Friday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company’s 50 day moving average price is $56.87 and its two-hundred day moving average price is $67.64. The stock has a market cap of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 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%. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Institutional Trading of Microchip Technology

Large investors have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC purchased a new position in Microchip Technology in the fourth quarter valued at about $123,000. LM Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $651,000. B. Riley Wealth Advisors Inc. lifted its stake in Microchip Technology by 4.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 6,859 shares of the semiconductor company’s stock valued at $393,000 after purchasing an additional 305 shares during the last quarter. Aurdan Capital Management LLC bought a new position in Microchip Technology during the fourth quarter valued at $6,674,000. Finally, Value Partners Investments Inc. increased its position in Microchip Technology by 42.2% in the fourth quarter. Value Partners Investments Inc. now owns 31,456 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 9,336 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MCHP shares. Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Rosenblatt Securities restated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Company Profile

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.