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

World Investment Advisors increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,047 shares of the semiconductor company’s stock after acquiring an additional 1,165 shares during the quarter. World Investment Advisors’ holdings in Microchip Technology were worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MCHP. Pallas Capital Advisors LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $5,917,000. Consolidated Planning Corp purchased a new position in Microchip Technology in the fourth quarter worth approximately $308,000. Quadrature Capital Ltd acquired a new stake in Microchip Technology during the third quarter worth $3,312,000. one8zero8 LLC purchased a new stake in Microchip Technology in the fourth quarter valued at $384,000. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of Microchip Technology in the 4th quarter valued at $520,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. B. Riley reissued a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. KeyCorp dropped their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Down 11.0 %

Microchip Technology stock opened at $36.22 on Friday. The company 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 debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a fifty-two week low of $36.10 and a fifty-two week high of $100.57. The stock has a 50-day simple moving average of $54.29 and a 200-day simple moving average of $62.86.

Microchip Technology (NASDAQ:MCHP) last posted 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%. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

About Microchip Technology

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.