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

Microchip Technology Incorporated (NASDAQ:MCHP) CFO James Eric Bjornholt sold 3,724 shares of the 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 completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Microchip Technology Price Performance

MCHP opened at $58.86 on Friday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company’s 50 day simple moving average is $56.94 and its 200-day simple moving average is $67.52. The stock has a market capitalization of $31.66 billion, a P/E ratio of 105.11 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.09%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Institutional Trading of Microchip Technology

Several hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC bought a new position in Microchip Technology in the fourth quarter valued at approximately $5,917,000. Consolidated Planning Corp bought a new position in Microchip Technology in the fourth quarter valued at approximately $308,000. Quadrature Capital Ltd bought a new position in Microchip Technology in the third quarter valued at approximately $3,312,000. Symphony Financial Ltd. Co. bought a new position in Microchip Technology in the fourth quarter valued at approximately $520,000. Finally, Benjamin Edwards Inc. boosted its stake in Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after acquiring an additional 9,230 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. 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. Citigroup dropped their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley dropped their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.11.

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.