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Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) Director Karlton D. Johnson sold 927 shares of Microchip Technology stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $64.54, for a total value of $59,828.58. Following the completion of the transaction, the director now directly owns 1,369 shares in the company, valued at approximately $88,355.26. The sale was disclosed in a document filed with the SEC, which is available at this link.
Microchip Technology Stock Down 1.9 %
Shares of Microchip Technology stock traded down $1.26 during trading on Wednesday, hitting $66.50. 5,482,971 shares of the stock traded hands, compared to its average volume of 5,048,609. The company has a fifty day moving average price of $63.17 and a two-hundred day moving average price of $64.88. Microchip Technology Incorporated has a twelve month low of $54.33 and a twelve month high of $90.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 1.05. The stock has a market cap of $36.58 billion, a P/E ratio of 20.72, a PEG ratio of 0.81 and a beta of 1.51.
Microchip Technology Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be issued a $0.328 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.30. This represents a $1.31 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, November 21st. Microchip Technology’s payout ratio is 36.70%.
Institutional Investors Weigh In On Microchip Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners lifted its holdings in Microchip Technology by 17.2% in the 3rd quarter. Boston Partners now owns 7,665,626 shares of the semiconductor company’s stock worth $467,751,000 after purchasing an additional 1,123,669 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Microchip Technology by 6.2% in the 3rd quarter. Checchi Capital Advisers LLC now owns 7,439 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 437 shares during the last quarter. First Commonwealth Financial Corp PA lifted its holdings in Microchip Technology by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 8,334 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 174 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in Microchip Technology in the 3rd quarter worth approximately $248,000. Finally, Blair William & Co. IL lifted its holdings in shares of Microchip Technology by 0.3% during the third quarter. Blair William & Co. IL now owns 1,026,990 shares of the semiconductor company’s stock worth $62,677,000 after buying an additional 3,210 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
MCHP has been the topic of a number of analyst reports. B. Riley lifted their price target on Microchip Technology from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Morgan Stanley lowered their target price on Microchip Technology from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. StockNews.com initiated coverage on Microchip Technology in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Cowen lifted their target price on Microchip Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Finally, Mizuho lowered their target price on Microchip Technology from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $84.45.
About Microchip Technology
(Get Rating)
Microchip Technology Incorporated develops, manufactures, and sells 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 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.
See Also
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