Ameritas Investment Partners Inc. Acquires 131 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Ameritas Investment Partners Inc. raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,381 shares of the semiconductor company’s stock after acquiring an additional 131 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Microchip Technology were worth $5,067,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Financial Counselors Inc. boosted its holdings in Microchip Technology by 1.1% in the first quarter. Financial Counselors Inc. now owns 10,689 shares of the semiconductor company’s stock worth $959,000 after purchasing an additional 119 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Microchip Technology by 3.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 131 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Microchip Technology by 5.1% during the 1st quarter. Meridian Wealth Management LLC now owns 2,810 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 137 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Microchip Technology by 11.8% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,370 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 145 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Microchip Technology by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 148 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCHP has been the topic of several analyst reports. Susquehanna lowered their price target on Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. Citigroup cut their price target on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $115.00 in a research report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Microchip Technology Trading Down 2.3 %

Shares of Microchip Technology stock opened at $77.01 on Friday. 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 $41.32 billion, a P/E ratio of 22.19 and a beta of 1.53. The company has a 50-day simple moving average of $81.15 and a 200 day simple moving average of $87.73. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96.

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

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.454 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Insider Buying and Selling

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

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.