Plato Investment Management Ltd Has $281,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Plato Investment Management Ltd raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,499 shares of the semiconductor company’s stock after purchasing an additional 191 shares during the period. Plato Investment Management Ltd’s holdings in Microchip Technology were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Microchip Technology by 2.9% in the first 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. Principal Financial Group Inc. increased its stake in Microchip Technology by 0.4% in the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after buying an additional 33,603 shares during the last quarter. Van ECK Associates Corp lifted its position in Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares in the last quarter. Boston Partners grew its holdings in shares of 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 acquiring an additional 736,818 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Microchip Technology by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock valued at $406,182,000 after acquiring an additional 673,992 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 4.2 %

Shares of Microchip Technology stock opened at $62.86 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a 50-day moving average of $75.88 and a 200-day moving average of $84.33. Microchip Technology Incorporated has a 52-week low of $62.63 and a 52-week high of $100.57. The stock has a market cap of $33.76 billion, a PE ratio of 43.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America cut Microchip Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $90.00 in a research report on Friday, August 2nd. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen decreased their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, Evercore ISI restated an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

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.