Crewe Advisors LLC Sells 776 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Crewe Advisors LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 29.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,870 shares of the semiconductor company’s stock after selling 776 shares during the quarter. Crewe Advisors LLC’s holdings in Microchip Technology were worth $107,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the 3rd quarter worth about $29,000. Financial Life Planners bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the third quarter worth approximately $34,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of several research analyst reports. Piper Sandler cut their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI restated an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Susquehanna lowered their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Finally, Morgan Stanley reduced their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.67.

Microchip Technology Price Performance

MCHP opened at $53.11 on Friday. The firm has a market capitalization of $28.52 billion, a PE ratio of 37.14 and a beta of 1.50. The business’s 50-day moving average is $58.34 and its two-hundred day moving average is $70.38. Microchip Technology Incorporated has a 1 year low of $51.37 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Research analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.43%. Microchip Technology’s dividend payout ratio is currently 127.27%.

Microchip Technology 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.