Microchip Technology (NASDAQ:MCHP) CEO Steve Sanghi Sells 416,581 Shares of Stock

Microchip Technology Incorporated (NASDAQ:MCHP) CEO Steve Sanghi sold 416,581 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the transaction, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steve Sanghi also recently made the following trade(s):

• On Wednesday, January 28th, Steve Sanghi sold 98,814 shares of Microchip Technology stock. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70.

Microchip Technology Trading Down 2.9%

NASDAQ:MCHP opened at $86.84 on Tuesday. Microchip Technology Incorporated has a one year low of $44.17 and a one year high of $92.24. The company’s 50-day simple moving average is $71.17 and its 200 day simple moving average is $67.90. The firm has a market capitalization of $46.99 billion, a P/E ratio of -299.45, a PEG ratio of 1.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $0.20 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, analysts forecast that Microchip Technology Incorporated will post 1.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were given a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.82 annualized dividend and a yield of 2.1%. Microchip Technology’s dividend payout ratio is -627.59%.

Institutional Trading of Microchip Technology

Large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC raised its holdings in shares of Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares in the last quarter. Gagnon Securities LLC grew its stake in shares of Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 137 shares in the last quarter. Evelyn Partners Investment Management LLP grew its stake in shares of 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 worth $593,000 after purchasing an additional 140 shares in the last quarter. Millstone Evans Group LLC increased its holdings in Microchip Technology by 23.7% in the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 142 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in Microchip Technology by 1.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company’s stock valued at $572,000 after buying an additional 143 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCHP. Rosenblatt Securities boosted their price objective on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. BNP Paribas Exane upgraded shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Thursday, January 22nd. UBS Group boosted their price target on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.00.

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.