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Today, the SVP, Analog of Microchip (MCHP), Richard Simoncic, bought shares of MCHP for $475.9K.
This recent transaction increases Richard Simoncic’s holding in the company by 11.47% to a total of $4.67 million. In addition to Richard Simoncic, 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 March 31, the company posted quarterly revenue of $1.33 billion and quarterly net profit of $175 million. In comparison, last year the company earned revenue of $1 billion and had a net profit of $147 million. MCHP’s market cap is $20.33B and the company has a P/E ratio of 60.42. Currently, Microchip has an average volume of 1.78M.
Based on 8 analyst ratings, the analyst consensus is Strong Buy with an average price target of $109.57, reflecting a 29.2% upside. Starting in March 2019, MCHP received 10 Buy ratings in a row. Seven different firms, including B.Riley FBR and Mizuho Securities, currently also have a Buy rating on the stock.
The insider sentiment on Microchip has been positive according to 63 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.
