Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by World Investment Advisors

World Investment Advisors increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,047 shares of the semiconductor company’s stock after acquiring an additional 1,165 shares during the period. World Investment Advisors’ holdings in Microchip Technology were worth $2,526,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MCHP. United Bank lifted its position in shares of Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock valued at $793,000 after acquiring an additional 1,712 shares during the period. Benjamin Edwards Inc. raised its holdings in Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 9,230 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Microchip Technology by 149.0% during the third quarter. Integrated Wealth Concepts LLC now owns 11,638 shares of the semiconductor company’s stock worth $934,000 after purchasing an additional 6,965 shares in the last quarter. IHT Wealth Management LLC grew its holdings in Microchip Technology by 12.8% in the third quarter. IHT Wealth Management LLC now owns 6,192 shares of the semiconductor company’s stock valued at $494,000 after purchasing an additional 702 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Microchip Technology by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 211,102 shares of the semiconductor company’s stock valued at $16,949,000 after buying an additional 5,363 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MCHP. TD Cowen increased their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. B. Riley reiterated a “buy” rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Raymond James reissued a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Trading Down 11.0 %

Shares of MCHP opened at $36.22 on Friday. Microchip Technology Incorporated has a twelve month low of $36.10 and a twelve month high of $100.57. The firm has a market capitalization of $19.48 billion, a P/E ratio of 64.68 and a beta of 1.51. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $54.29 and its 200 day simple moving average is $62.86.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 5.02%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.