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.
Wall Street Analysts Forecast Growth
MCHP has been the topic of several recent analyst reports. Bank of America dropped their target price on Microchip Technology from $85.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, June 29th. StockNews.com upgraded shares of Microchip Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, May 17th. The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $76.00 to $61.00 in a research note on Friday, July 15th. Morgan Stanley lifted their target price on Microchip Technology from $81.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 3rd. Finally, B. Riley upped their target price on Microchip Technology from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus price target of $89.73.
Microchip Technology Trading Down 3.2 %
Shares of MCHP opened at $71.69 on Thursday. The stock's fifty day simple moving average is $63.73 and its 200 day simple moving average is $68.26. The firm has a market capitalization of $39.61 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.62. The company has a current ratio of 1.78, a quick ratio of 1.17 and a debt-to-equity ratio of 1.27. Microchip Technology has a twelve month low of $54.33 and a twelve month high of $90.00.
Microchip Technology (NASDAQ:MCHP - Get Rating) last posted its earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.10. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. During the same quarter in the previous year, the company earned $0.88 EPS. On average, equities research analysts forecast that Microchip Technology will post 5.38 earnings per share for the current year.
Microchip Technology Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be given a $0.301 dividend. This is an increase from Microchip Technology's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Thursday, August 18th. Microchip Technology's dividend payout ratio (DPR) is presently 40.44%.
Insider Activity
In other news, VP Mitchell R. Little sold 3,674 shares of the business's stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $66.66, for a total value of $244,908.84. Following the sale, the vice president now owns 13,056 shares of the company's stock, valued at approximately $870,312.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Microchip Technology news, VP Mitchell R. Little sold 3,674 shares of Microchip Technology stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $66.66, for a total transaction of $244,908.84. Following the transaction, the vice president now directly owns 13,056 shares in the company, valued at approximately $870,312.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew W. Chapman sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $66.66, for a total transaction of $66,660.00. Following the transaction, the director now directly owns 36,386 shares in the company, valued at $2,425,490.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,000 shares of company stock valued at $466,620. 2.00% of the stock is currently owned by insiders.
