Cromwell Holdings LLC Sells 533 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cromwell Holdings LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 34.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,009 shares of the semiconductor company’s stock after selling 533 shares during the period. Cromwell Holdings LLC’s holdings in Microchip Technology were worth $58,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the third quarter valued at about $29,000. Financial Life Planners bought a new stake in Microchip Technology in the fourth quarter valued at about $32,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology in the third quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC increased its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $64.30 on Friday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The firm’s 50 day moving average is $56.63 and its 200-day moving average is $68.19. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of 114.82 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI reissued an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Morgan Stanley reduced their price target 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, February 4th. Finally, Mizuho reduced their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

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.