Rep. Julie Johnson Sells Off Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Representative Julie Johnson (D-Texas) recently sold shares of Microchip Technology Incorporated NASDAQ: MCHP. In a filing disclosed on March 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Microchip Technology stock on February 5th. The trade occurred in the Representative's "CHASE BROKERAGE ACCOUNT (3935)" account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Norfolk Southern NYSE: NSC on 2/25/2025.
• Purchased $1,001 - $15,000 in shares of Union Pacific NYSE: UNP on 2/25/2025.
• Purchased $1,001 - $15,000 in shares of Bank of New York Mellon NYSE: BK on 2/24/2025.
• Sold $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 2/24/2025.
• Sold $1,001 - $15,000 in shares of The PNC Financial Services Group NYSE: PNC on 2/24/2025.
• Purchased $1,001 - $15,000 in shares of Progressive NYSE: PGR on 2/24/2025.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 2/24/2025.
• Purchased $1,001 - $15,000 in shares of Capital One Financial NYSE: COF on 2/24/2025.
• Purchased $1,001 - $15,000 in shares of Capital One Financial NYSE: COF on 2/14/2025.
• Purchased $1,001 - $15,000 in shares of Progressive NYSE: PGR on 2/14/2025.

Microchip Technology Trading Up 3.3 %

Shares of NASDAQ MCHP traded up $1.76 during midday trading on Monday, reaching $55.26. 6,072,367 shares of the stock were exchanged, compared to its average volume of 6,870,162. The stock has a 50 day moving average price of $56.51 and a 200-day moving average price of $65.58. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $29.72 billion, a P/E ratio of 98.68 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Microchip Technology

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Microchip Technology during the 4th quarter worth approximately $452,627,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock valued at $306,541,000 after acquiring an additional 3,912,895 shares in the last quarter. Van ECK Associates Corp lifted its stake in Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Microchip Technology by 90.0% in the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after purchasing an additional 3,013,162 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCHP. KeyCorp lowered their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Mizuho increased their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Piper Sandler reiterated an "overweight" rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus target price of $74.37.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas' 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027. Johnson (Democratic Party) ran for election to the U.S. House to represent Texas' 32nd Congressional District. She won in the general election on November 5, 2024. Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson's career experience includes working as an attorney.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.