Mercer Global Advisors Inc. ADV lowered its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 26.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,653 shares of the semiconductor company’s stock after selling 1,681 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Microchip Technology were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colony Group LLC increased its position in shares of Microchip Technology by 2.4% in the 4th quarter. Colony Group LLC now owns 4,738 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 109 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Microchip Technology by 0.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 17,685 shares of the semiconductor company’s stock worth $1,852,000 after purchasing an additional 112 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Microchip Technology by 0.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,903 shares of the semiconductor company’s stock worth $3,248,000 after purchasing an additional 124 shares during the last quarter. CSat Investment Advisory L.P. increased its position in shares of Microchip Technology by 14.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 982 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 127 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Microchip Technology by 0.8% in the 4th quarter. Greenleaf Trust now owns 15,800 shares of the semiconductor company’s stock worth $1,655,000 after purchasing an additional 131 shares during the last quarter.

Shares of NASDAQ:MCHP opened at $102.57 on Tuesday. The company has a 50 day moving average of $97.11 and a 200-day moving average of $93.38. The firm has a market cap of $23.97 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.30 and a beta of 1.61. Microchip Technology Inc. has a twelve month low of $53.15 and a twelve month high of $113.28. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 1.59.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Microchip Technology had a net margin of 10.82% and a return on equity of 23.63%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. Equities research analysts forecast that Microchip Technology Inc. will post 5.3 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.3675 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, May 20th. Microchip Technology’s dividend payout ratio is currently 28.38%.

In related news, VP Richard J. Simoncic sold 3,958 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $86.92, for a total value of $344,029.36. Following the sale, the vice president now directly owns 19,213 shares in the company, valued at approximately $1,669,993.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ganesh Moorthy sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $106.72, for a total transaction of $1,280,640.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,336 shares of company stock valued at $2,684,160. Company insiders own 2.21% of the company’s stock.

MCHP has been the subject of several research reports. Needham & Company LLC lifted their price target on shares of Microchip Technology from $100.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Loop Capital initiated coverage on shares of Microchip Technology in a report on Friday, June 19th. They issued a “buy” rating and a $120.00 price target for the company. Argus lifted their price target on shares of Microchip Technology from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price target on shares of Microchip Technology in a report on Tuesday, June 2nd. Finally, KeyCorp lifted their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $112.56.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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