Insider Selling: Microchip Technology Inc. (NASDAQ:MCHP) CFO Sells 2,308 Shares of Stock

Thursday, June 7 2018

Insider Selling: Microchip Technology Inc. (NASDAQ:MCHP) CFO Sells 2,308 Shares of Stock

Insider Selling: Microchip Technology Inc. (NASDAQ:MCHP) CFO Sells 2,308 Shares of Stock Posted by Dante Gardener | Jun 7th, 2018
Microchip Technology Inc. (NASDAQ:MCHP) CFO James Eric Bjornholt sold 2,308 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $93.55, for a total value of $215,913.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink .
James Eric Bjornholt also recently made the following trade(s): Get Microchip Technology alerts: On Thursday, February 22nd, James Eric Bjornholt sold 2,109 shares of Microchip Technology stock. The stock was sold at an average price of $84.18, for a total value of $177,535.62.
Microchip Technology opened at $103.31 on Thursday, according to Marketbeat . The company has a market capitalization of $23.84 billion, a PE ratio of 19.32, a PEG ratio of 1.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.66 and a quick ratio of 1.43. Microchip Technology Inc. has a 52 week low of $75.80 and a 52 week high of $103.37.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.13. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $984.80 million. Microchip Technology had a return on equity of 38.62% and a net margin of 6.41%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. research analysts expect that Microchip Technology Inc. will post 5.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Monday, May 21st were paid a dividend of $0.3635 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, May 18th. This represents a $1.45 dividend on an annualized basis and a yield of 1.41%.
Several equities analysts recently issued reports on MCHP shares. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Bank of America reduced their price target on Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Zacks Investment Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. KeyCorp upgraded Microchip Technology from a “sector weight” rating to an “overweight” rating in a research report on Friday, March 2nd. Finally, Morgan Stanley reduced their price target on Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $110.17.
A number of large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its holdings in shares of Microchip Technology by 4.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 773,400 shares of the semiconductor company’s stock worth $67,967,000 after purchasing an additional 35,374 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Microchip Technology by 176.3% in the 4th quarter. State of Alaska Department of Revenue now owns 32,467 shares of the semiconductor company’s stock worth $2,851,000 after purchasing an additional 20,717 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Microchip Technology by 87.8% in the 4th quarter. IFP Advisors Inc now owns 8,173 shares of the semiconductor company’s stock worth $718,000 after purchasing an additional 3,822 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Microchip Technology by 13.0% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 749,783 shares of the semiconductor company’s stock worth $65,890,000 after purchasing an additional 86,448 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Microchip Technology by 12.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 136,279 shares of the semiconductor company’s stock worth $11,977,000 after purchasing an additional 14,796 shares in the last quarter.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity. Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter . «