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. It also provides development tools that enable system designers to program microcontroller and microprocessor products for specific applications; field-programmable gate array (FPGA) products; and analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, discrete diodes and metal oxide semiconductor field effect transistors (MOSFETS), radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products. In addition, the company offers memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, serial static random access memories, and serial electrically erasable random access memories for the production of very small footprint devices; and licenses its SuperFlash embedded flash and NVM technologies to foundries, integrated device manufacturers, and design partners for use in the manufacture of microcontroller products, gate array, RF, analog, and neuromorphic compute products that require embedded non-volatile memory, as well as provides engineering services. Further, it offers wafer foundry and assembly, and test subcontracting manufacturing services; and timing systems products, application specific integrated circuits, and aerospace products. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.
Microchip Technology Price Performance
NASDAQ:MCHP traded up $0.34 during trading hours on Monday, hitting $74.05. 110,053 shares of the company's stock traded hands, compared to its average volume of 5,002,346. The firm has a market cap of $40.91 billion, a P/E ratio of 27.01, a P/E/G ratio of 0.94 and a beta of 1.62. Microchip Technology has a 52 week low of $54.33 and a 52 week high of $90.00. The business's fifty day simple moving average is $63.53 and its two-hundred day simple moving average is $68.18. The company has a quick ratio of 1.17, a current ratio of 1.78 and a debt-to-equity ratio of 1.27.
Microchip Technology (NASDAQ:MCHP - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.10. Microchip Technology had a return on equity of 44.90% and a net margin of 21.34%. During the same quarter in the prior year, the business earned $0.88 EPS. On average, research analysts anticipate that Microchip Technology will post 5.38 earnings per share for the current fiscal year.
Microchip Technology Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be given a dividend of $0.301 per share. This is an increase from Microchip Technology's previous quarterly dividend of $0.28. The ex-dividend date is Thursday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.63%. Microchip Technology's dividend payout ratio (DPR) is presently 40.44%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Needham & Company LLC increased their price objective on Microchip Technology from $75.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. StockNews.com raised Microchip Technology from a "hold" rating to a "buy" rating in a report on Tuesday, May 17th. BMO Capital Markets reduced their price objective on Microchip Technology from $95.00 to $85.00 in a report on Tuesday, May 10th. Bank of America cut their price target on Microchip Technology from $85.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, June 29th. Finally, Cowen raised their price target on Microchip Technology from $60.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.73.
Insider Buying and Selling at Microchip Technology
In other Microchip Technology news, VP Mitchell R. Little sold 1,970 shares of the firm's stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $66.29, for a total transaction of $130,591.30. Following the sale, the vice president now owns 16,730 shares in the company, valued at $1,109,031.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Mitchell R. Little sold 3,674 shares of Microchip Technology stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $66.66, for a total value of $244,908.84. Following the transaction, the vice president now owns 13,056 shares in the company, valued at $870,312.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Mitchell R. Little sold 1,970 shares of Microchip Technology stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $66.29, for a total value of $130,591.30. Following the completion of the transaction, the vice president now owns 16,730 shares in the company, valued at approximately $1,109,031.70. The disclosure for this sale can be found here. Insiders have sold 8,970 shares of company stock worth $597,211 over the last 90 days. Corporate insiders own 2.00% of the company's stock.
