Crewe Advisors LLC Has $212,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Crewe Advisors LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 32.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,646 shares of the semiconductor company’s stock after selling 1,245 shares during the period. Crewe Advisors LLC’s holdings in Microchip Technology were worth $212,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MCHP. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology in the third quarter worth about $34,000. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology in the first quarter worth about $39,000. Versant Capital Management Inc lifted its holdings in shares of Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of Microchip Technology during the 2nd quarter valued at about $55,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MCHP. Susquehanna dropped their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Piper Sandler reduced their target price on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Citigroup cut their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.00.

Microchip Technology Trading Up 1.0 %

MCHP stock opened at $66.69 on Friday. Microchip Technology Incorporated has a 52 week low of $62.63 and a 52 week high of $100.57. The company has a market capitalization of $35.81 billion, a PE ratio of 46.64 and a beta of 1.53. The company’s 50-day simple moving average is $74.59 and its 200 day simple moving average is $83.17. 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 announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $1.54 EPS. The company’s quarterly revenue was down 48.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is 127.27%.

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.