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

Microchip Technology Incorporated (NASDAQ:MCHP) announced a quarterly dividend on Thursday, November 5th. Investors of record on Monday, November 23rd will be given a dividend of $0.4550 per share by the semiconductor company on Tuesday, December 8th. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 23rd.

Microchip Technology has raised its dividend by an average of 0.2% per year over the last three years and has raised its dividend every year for the last 23 years. Microchip Technology has a payout ratio of 72.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Microchip Technology to earn $4.09 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 44.5%.

Microchip Technology Stock Performance

Shares of MCHP opened at $64.85 on Friday. The stock has a market capitalization of $35.21 billion, a PE ratio of 96.79, a price-to-earnings-growth ratio of 0.52 and a beta of 1.84. The business’s fifty day moving average price is $75.19 and its 200 day moving average price is $79.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. Microchip Technology has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities research analysts forecast that Microchip Technology will post 3.20 EPS for the current year.

About Microchip Technology

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.