Microchip Technology Incorporated (MCHP) To Go Ex-Dividend on May 21st

Microchip Technology Incorporated (NASDAQ:MCHPGet Free Report) declared a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Wednesday, May 22nd will be given a dividend of 0.452 per share by the semiconductor company on Wednesday, June 5th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, May 21st. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45.

Microchip Technology has increased its dividend payment by an average of 29.3% annually over the last three years and has raised its dividend annually for the last 23 consecutive years. Microchip Technology has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Microchip Technology to earn $3.93 per share next year, which means the company should continue to be able to cover its $1.81 annual dividend with an expected future payout ratio of 46.1%.

Microchip Technology Stock Up 0.1 %

MCHP stock opened at $94.33 on Friday. Microchip Technology has a 52 week low of $68.75 and a 52 week high of $96.14. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market cap of $50.98 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.29 and a beta of 1.60. The company’s 50-day moving average price is $89.44 and its 200 day moving average price is $86.43.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The company’s revenue was down 40.6% compared to the same quarter last year. On average, research analysts expect that Microchip Technology will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MCHP has been the subject of several research reports. UBS Group lifted their price target on Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Stifel Nicolaus upped their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Susquehanna increased their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group lifted their price objective on Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Citigroup increased their target price on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.39.

View Our Latest Stock Analysis on MCHP

Insider Buying and Selling

In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the transaction, the vice president now owns 79,509 shares of the company’s stock, valued at $7,558,125.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $95.06, for a total transaction of $744,319.80. Following the completion of the sale, the vice president now directly owns 79,509 shares in the company, valued at $7,558,125.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,800 shares of company stock valued at $1,818,403. Insiders own 2.07% of the company’s stock.

Microchip Technology Company Profile

(Get Free Report)

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 mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Dividend History for Microchip Technology (NASDAQ:MCHP)

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