Microchip Technology Incorporated (NASDAQ:MCHP) to Issue Quarterly Dividend of $0.46

Microchip Technology Incorporated (NASDAQ:MCHPGet Free Report) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Monday, February 24th will be given a dividend of 0.455 per share by the semiconductor company on Friday, March 7th. This represents a $1.82 dividend on an annualized basis and a yield of 3.43%.

Microchip Technology has raised its dividend by an average of 28.6% per year over the last three years and has raised its dividend every year for the last 14 years. Microchip Technology has a dividend payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Microchip Technology to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.82 annual dividend with an expected future payout ratio of 90.1%.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $53.11 on Friday. Microchip Technology has a 12-month low of $51.37 and a 12-month high of $100.57. The business’s fifty day simple moving average is $58.34 and its 200-day simple moving average is $70.38. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a market cap of $28.52 billion, a PE ratio of 37.14 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Analysts expect that Microchip Technology will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MCHP has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Piper Sandler dropped their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.67.

Read Our Latest Research Report on Microchip Technology

Microchip Technology Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Microchip Technology (NASDAQ:MCHP)

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