Today, a Director at Microchip (NASDAQ: MCHP), Matthew Chapman, bought shares of MCHP for $59.96K.
This recent transaction increases Matthew Chapman’s holding in the company by 2.85% to a total of $2.21 million. In addition to Matthew Chapman, 3 other MCHP executives reported Buy trades in the last month.
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Based on Microchip’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.21 billion and quarterly net profit of $35.7 million. In comparison, last year the company earned revenue of $972 million and had a net profit of $171 million. MCHP’s market cap is $23.05B and the company has a P/E ratio of 208.12. Currently, Microchip has an average volume of 19.24M.
26 different firms, including Argus Research and B.Riley FBR, currently also have a Buy rating on the stock. Based on 16 analyst ratings, the analyst consensus is Strong Buy with an average price target of $116.06, reflecting a -24.7% downside. Starting in June 2018, MCHP received 16 Buy ratings in a row.
The insider sentiment on Microchip has been positive according to 86 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
Matthew Chapman’s trades have generated a 4.2% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.
