Plato Investment Management Ltd Has $223,000 Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Plato Investment Management Ltd reduced its stake in Microchip Technology by 74.3%, holding 4,560 shares worth $223,000 after selling 13,152 shares in the first quarter.
• Other institutional investors have been increasing their positions, with UBS AM raising its stake by 9.9% and Logan Capital Management increasing by 44.1%.
• Microchip Technology reported earnings of $0.27 per share, beating expectations, and declared a quarterly dividend of $0.455, indicating an annual yield of 2.8%.

Plato Investment Management Ltd cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 74.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,560 shares of the semiconductor company's stock after selling 13,152 shares during the quarter. Plato Investment Management Ltd's holdings in Microchip Technology were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Microchip Technology by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,348,465 shares of the semiconductor company's stock worth $162,099,000 after buying an additional 302,460 shares during the last quarter. Logan Capital Management Inc. increased its position in Microchip Technology by 44.1% during the first quarter. Logan Capital Management Inc. now owns 66,109 shares of the semiconductor company's stock worth $3,200,000 after buying an additional 20,228 shares during the last quarter. Dean Capital Management increased its position in Microchip Technology by 20.1% during the first quarter. Dean Capital Management now owns 28,077 shares of the semiconductor company's stock worth $1,359,000 after buying an additional 4,703 shares during the last quarter. MBB Public Markets I LLC acquired a new position in Microchip Technology during the first quarter worth $294,000. Finally, RNC Capital Management LLC increased its position in Microchip Technology by 15.4% during the first quarter. RNC Capital Management LLC now owns 8,608 shares of the semiconductor company's stock worth $417,000 after buying an additional 1,150 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.4%

MCHP stock opened at $65.02 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $81.64. The company has a 50-day moving average of $68.27 and a two-hundred day moving average of $59.63. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of -191.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm's revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -535.29%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MCHP shares. Citigroup increased their target price on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Truist Financial increased their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Needham & Company LLC upped their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a report on Friday, August 8th. Susquehanna upped their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group started coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a "buy" rating and a $88.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $76.58.

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.

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