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

Crewe Advisors LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,646 shares of the semiconductor company’s stock after selling 1,245 shares during the quarter. Crewe Advisors LLC’s holdings in Microchip Technology were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its holdings in Microchip Technology by 3.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 131 shares during the last quarter. Corundum Group Inc. grew its stake in shares of Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Microchip Technology by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 148 shares during the period. Busey Bank raised its position in Microchip Technology by 2.6% during the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after purchasing an additional 155 shares during the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $66.69 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $74.59 and a 200 day simple moving average of $83.17. Microchip Technology Incorporated has a 12-month low of $62.63 and a 12-month high of $100.57. The company has a market cap of $35.81 billion, a P/E ratio of 46.64 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Microchip Technology’s quarterly revenue was down 48.4% on a year-over-year basis. Sell-side analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America cut Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $90.00 in a research note on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

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.