Microchip Technology Incorporated (MCHP) to Issue Quarterly Dividend of $0.36 on March 7th

Microchip Technology Incorporated (NASDAQ:MCHP) declared a quarterly dividend on Tuesday, February 7th. Investors of record on Tuesday, February 21st will be paid a dividend of 0.361 per share on Tuesday, March 7th. This represents a $1.44 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, February 16th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36.

Microchip Technology (NASDAQ:MCHP) opened at 70.78 on Wednesday. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 172.21 and a beta of 1.08. The company’s 50-day moving average is $67.19 and its 200 day moving average is $63.07. Microchip Technology has a 12 month low of $41.53 and a 12 month high of $76.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.15. Microchip Technology had a net margin of 3.10% and a return on equity of 30.26%. The company earned $881.20 million during the quarter, compared to analyst estimates of $849.14 million. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 59.6% on a year-over-year basis. On average, equities research analysts predict that Microchip Technology will post $3.90 earnings per share for the current year.

Dividend History for Microchip Technology (NASDAQ:MCHP)

Several research firms have recently weighed in on MCHP. B. Riley restated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, February 8th. Macquarie restated a “neutral” rating and set a $72.00 price objective (up previously from $67.00) on shares of Microchip Technology in a research report on Wednesday, February 8th. Stifel Nicolaus raised their target price on shares of Microchip Technology from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, November 30th. Citigroup Inc. set a $85.00 target price on shares of Microchip Technology and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, Mizuho reiterated a “neutral” rating and issued a $72.00 target price (up from $67.00) on shares of Microchip Technology in a report on Wednesday, February 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $74.13.

“Microchip Technology Incorporated (MCHP) to Issue Quarterly Dividend of $0.36 on March 7th” was first posted by sleekmoney and is the property of of sleekmoney. If you are reading this article on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be accessed at http://sleekmoney.com/microchip-technology-incorporated-mchp-to-issue-quarterly-dividend-of-0-36-on-march-7th/1661546.html.

In related news, CFO James Eric Bjornholt sold 2,043 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $65.16, for a total transaction of $133,121.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Sanghi sold 49,901 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $63.80, for a total transaction of $3,183,683.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,023 shares of company stock worth $5,608,975. Insiders own 2.50% of the company’s stock.

About Microchip Technology

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.

5 Day Chart for NASDAQ:MCHP

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/microchip-technology-incorporated-mchp-to-issue-quarterly-dividend-of-0-36-on-march-7th/1661546.html

Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *