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Insider Sale: Director Matthew Chapman Sells Shares of Microchip Technology Inc (MCHP)

Director Matthew Chapman sold 2,748 shares of Microchip Technology Inc (NASDAQ:MCHP) on June 10, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 35,682 shares of the company.

Microchip Technology Inc (NASDAQ:MCHP) is a leading provider of smart, connected, and secure embedded control solutions. Its products serve a wide range of applications across the automotive, industrial, aerospace, and consumer markets, among others.

On the date of the sale, shares of Microchip Technology Inc were priced at $93.88, giving the company a market cap of approximately $50.75 billion. The price-earnings ratio stood at 27.24, which is below both the industry median of 33.37 and the company's historical median.

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According to the GF Value, the intrinsic value estimate for Microchip Technology Inc is $74.62 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.26.

Insider Sale: Director Matthew Chapman Sells Shares of Microchip Technology Inc (MCHP)
Insider Sale: Director Matthew Chapman Sells Shares of Microchip Technology Inc (MCHP)

Over the past year, there have been no insider purchases and 13 insider sales at Microchip Technology Inc. The insider, Matthew Chapman, has sold a total of 2,748 shares and has not made any purchases during this period.

Insider Sale: Director Matthew Chapman Sells Shares of Microchip Technology Inc (MCHP)
Insider Sale: Director Matthew Chapman Sells Shares of Microchip Technology Inc (MCHP)

The valuation metrics, such as the price-sales ratio, price-book ratio, and price-to-free cash flow, are derived from historical trading multiples, adjustments based on past performance, and future business performance estimates provided by Morningstar analysts.

This sale follows a trend of insider selling at the company, with no insider buys recorded over the past year, suggesting a pattern that potential investors might consider when evaluating their positions in Microchip Technology Inc.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.