Microchip Technology (NASDAQ:MCHP) had its price objective reduced by Bank of America from $120.00 to $110.00 in a research note published on Wednesday. Bank of America currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $120.00 to $130.00 and gave the company a strong-buy rating in a research note on Tuesday, November 7th. Credit Suisse Group reaffirmed an outperform rating and set a $110.00 target price (up previously from $95.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of Microchip Technology from a buy rating to a hold rating in a research note on Monday, October 23rd. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $120.00 target price on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, ValuEngine cut shares of Microchip Technology from a buy rating to a hold rating in a research note on Wednesday, November 15th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Microchip Technology presently has a consensus rating of Buy and a consensus price target of $102.35.

Microchip Technology (NASDAQ MCHP) opened at $81.04 on Wednesday. The stock has a market cap of $18,991.16, a P/E ratio of 16.14, a P/E/G ratio of 1.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.71. Microchip Technology has a one year low of $69.76 and a one year high of $99.17.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. The business had revenue of $994.10 million for the quarter, compared to analysts’ expectations of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. equities analysts anticipate that Microchip Technology will post 5.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, February 20th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is presently 149.49%.

In other news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Zions Bancorporation lifted its holdings in shares of Microchip Technology by 215.5% during the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 836 shares during the period. Amica Retiree Medical Trust acquired a new position in shares of Microchip Technology during the third quarter worth $121,000. Valeo Financial Advisors LLC acquired a new position in shares of Microchip Technology during the third quarter worth $146,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Microchip Technology by 608.4% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 1,807 shares during the period. Finally, Twin Tree Management LP lifted its holdings in shares of Microchip Technology by 126.2% during the fourth quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock worth $194,000 after purchasing an additional 10,646 shares during the period.

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Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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