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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC purchased a new stake in Microchip Technology during the third quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in Microchip Technology during the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. purchased a new stake in Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology during the third quarter valued at approximately $34,000. Finally, Wolff Wiese Magana LLC increased its holdings in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $53.11 on Friday. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 37.14 and a beta of 1.50. The company has a fifty day moving average of $58.34 and a 200 day moving average of $70.38. Microchip Technology Incorporated has a fifty-two week low of $51.37 and a fifty-two week high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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 net margin of 14.22% and a return on equity of 19.47%. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.43%. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Analysts Set New Price Targets

MCHP has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a report on Thursday. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Microchip Technology in a research note on Tuesday, December 3rd. Citigroup reduced their price objective 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. Finally, Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

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.