The VP & CFO of Microchip (MCHP) is Buying Shares


Yesterday, the VP & CFO of Microchip (NASDAQ: MCHP), James Eric Bjornholt, bought shares of MCHP for $402.3K.

This recent transaction increases James Eric Bjornholt’s holding in the company by 28.1% to a total of $1.85 million. In addition to James Eric Bjornholt, 8 other MCHP executives reported Buy trades in the last month.

See today’s analyst top recommended stocks >>

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 $19.8B and the company has a P/E ratio of 196.05. Currently, Microchip has an average volume of 4.88M.

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 $116.80, reflecting a -29.5% downside. Starting in June 2018, MCHP received 19 Buy ratings in a row.

The insider sentiment on Microchip has been positive according to 79 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Company insider trades’ information is brought to you by the DailyInsider, a proprietary algorithm that analyzes insider trading activity to detect the most attractive trading opportunities. To subscribe to the DailyInsider visit this page.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts