World Investment Advisors Has $1.03 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

World Investment Advisors decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,348 shares of the semiconductor company's stock after selling 22,699 shares during the quarter. World Investment Advisors' holdings in Microchip Technology were worth $1,033,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MCHP. Federated Hermes Inc. boosted its position in Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after purchasing an additional 209 shares during the period. Northwest Bank & Trust Co boosted its position in shares of Microchip Technology by 3.0% in the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after acquiring an additional 217 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Microchip Technology by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after acquiring an additional 230 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in shares of Microchip Technology by 3.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after acquiring an additional 276 shares during the period. Finally, State of Wyoming boosted its position in shares of Microchip Technology by 27.3% in the fourth quarter. State of Wyoming now owns 1,300 shares of the semiconductor company's stock valued at $75,000 after acquiring an additional 279 shares during the period. Institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Up 2.6%

Microchip Technology stock traded up $1.97 during mid-day trading on Thursday, hitting $76.65. The stock had a trading volume of 2,073,849 shares, compared to its average volume of 8,919,452. The stock has a 50-day simple moving average of $63.24 and a two-hundred day simple moving average of $56.12. The stock has a market capitalization of $41.36 billion, a PE ratio of -7,669.00, a P/E/G ratio of 2.22 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $96.98. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The firm's quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is currently -18,200.00%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the transaction, the chief financial officer owned 34,313 shares in the company, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director owned 3,468 shares in the company, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Rosenblatt Securities upped their target price on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. B. Riley upped their target price on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Truist Financial upped their target price on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Citigroup increased their price objective on Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Cantor Fitzgerald started coverage on Microchip Technology in a research note on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.10.

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.