Microchip Technology Inc. (NASDAQ:MCHP) CFO James Eric Bjornholt sold 2,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $112.92, for a total value of $225,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
James Eric Bjornholt also recently made the following trade(s):
- On Friday, May 22nd, James Eric Bjornholt sold 2,756 shares of Microchip Technology stock. The shares were sold at an average price of $86.92, for a total value of $239,551.52.
Shares of MCHP traded down $1.84 during mid-day trading on Monday, reaching $108.16. 1,037,973 shares of the company's stock traded hands, compared to its average volume of 3,740,143. The business's 50-day moving average price is $87.10 and its 200-day moving average price is $92.33. The stock has a market capitalization of $26.26 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.94 and a current ratio of 1.35. Microchip Technology Inc. has a 12 month low of $53.15 and a 12 month high of $113.28.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $1.46 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.35 by $0.11. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.32 billion. Microchip Technology had a return on equity of 23.63% and a net margin of 10.82%. The business's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. Equities research analysts anticipate that Microchip Technology Inc. will post 5.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, May 20th. This is a positive change from Microchip Technology's previous quarterly dividend of $0.37. Microchip Technology's dividend payout ratio (DPR) is currently 28.38%.
MCHP has been the subject of several recent analyst reports. B. Riley upgraded Microchip Technology from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $125.00 in a research note on Wednesday, June 3rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $110.00 price target on shares of Microchip Technology in a research report on Tuesday, June 2nd. KeyCorp increased their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Susquehanna Bancshares reduced their price target on shares of Microchip Technology from $130.00 to $115.00 and set a "positive" rating on the stock in a research report on Thursday, April 9th. Finally, Citigroup increased their price target on shares of Microchip Technology from $104.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of "Buy" and a consensus price target of $110.95.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Microchip Technology by 9.6% during the first quarter. Janus Henderson Group PLC now owns 14,250,012 shares of the semiconductor company's stock valued at $966,145,000 after acquiring an additional 1,244,503 shares during the period. Aristotle Capital Management LLC grew its position in Microchip Technology by 0.6% in the first quarter. Aristotle Capital Management LLC now owns 8,581,928 shares of the semiconductor company's stock worth $581,855,000 after buying an additional 48,909 shares during the last quarter. Principal Financial Group Inc. grew its position in Microchip Technology by 3.0% in the first quarter. Principal Financial Group Inc. now owns 5,925,466 shares of the semiconductor company's stock worth $401,746,000 after buying an additional 173,949 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Microchip Technology by 51.5% in the fourth quarter. Pictet Asset Management Ltd. now owns 2,463,704 shares of the semiconductor company's stock worth $257,999,000 after buying an additional 837,126 shares during the last quarter. Finally, Norges Bank acquired a new position in Microchip Technology in the fourth quarter worth approximately $213,432,000.
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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
Read More: Earnings Reports
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
15 Healthcare Stocks that Analysts Love
There are more than 200 healthcare companies traded on public markets. Given the sheer number of pharmaceutical companies, medical research firms, hospital systems and other healthcare stocks, it can be hard to identify which healthcare companies are going to outperform the market.
Fortunately, Wall Street's brightest minds have already done this for us. Every year, analyst issue approximately 3,000 distinct recommendations for healthcare companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when several analysts from different brokerages and research firm are giving "strong buy" and "buy" ratings to the same healthcare stock.
This slide show lists the 15 healthcare companies that have the highest average analyst recommendations from Wall Street's equities research analysts over the last 12 months.
View the "15 Healthcare Stocks that Analysts Love".