Mercer Global Advisors Inc. ADV Has $25.51 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Mercer Global Advisors Inc. ADV raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 278,810 shares of the semiconductor company’s stock after purchasing an additional 2,725 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.05% of Microchip Technology worth $25,511,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Clearbridge Investments LLC increased its holdings in Microchip Technology by 18,944.8% in the first quarter. Clearbridge Investments LLC now owns 1,973,045 shares of the semiconductor company’s stock worth $177,002,000 after purchasing an additional 1,962,685 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock worth $6,152,646,000 after purchasing an additional 1,921,497 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Microchip Technology by 425.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,377,099 shares of the semiconductor company’s stock worth $123,540,000 after purchasing an additional 1,114,962 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Microchip Technology by 17.2% in the 1st quarter. Van ECK Associates Corp now owns 6,068,311 shares of the semiconductor company’s stock valued at $544,388,000 after buying an additional 891,297 shares during the period. Finally, Boston Partners increased its position in Microchip Technology by 10.7% in the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after buying an additional 736,818 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MCHP. Bank of America lowered Microchip Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Citigroup reduced their price target on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. TD Cowen dropped their price objective on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. B. Riley lowered their price objective on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $102.00 to $100.00 in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.95.

Microchip Technology Trading Down 0.8 %

NASDAQ:MCHP opened at $76.36 on Thursday. The firm’s 50 day moving average is $81.73 and its 200 day moving average is $87.86. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $100.57. The stock has a market capitalization of $40.97 billion, a PE ratio of 22.01 and a beta of 1.53. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s revenue was down 45.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 earnings per share. Sell-side analysts expect that Microchip Technology Incorporated will post 1.74 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.454 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.38%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 52.16%.

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.