Plato Investment Management Ltd Purchases 14,213 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Plato Investment Management Ltd grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 406.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,712 shares of the semiconductor company’s stock after buying an additional 14,213 shares during the period. Plato Investment Management Ltd’s holdings in Microchip Technology were worth $1,019,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in Microchip Technology in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Financial Life Planners acquired a new stake in Microchip Technology in the 4th quarter worth approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Microchip Technology in the 4th quarter worth approximately $34,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $57.95 on Tuesday. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 103.48 and a beta of 1.50. The company has a 50 day moving average price of $56.94 and a 200-day moving average price of $67.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCHP. Citigroup lowered their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Morgan Stanley reduced their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reduced their price target on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

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.