Crossmark Global Holdings Inc. Cuts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Crossmark Global Holdings Inc. cut its stake in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 57.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,290 shares of the semiconductor company’s stock after selling 191,462 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Microchip Technology were worth $8,045,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCHP. Ballentine Partners LLC boosted its stake in shares of Microchip Technology by 10.2% in the fourth quarter. Ballentine Partners LLC now owns 4,713 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 437 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in Microchip Technology by 4.4% in the 4th quarter. Ellsworth Advisors LLC now owns 30,878 shares of the semiconductor company’s stock valued at $1,771,000 after purchasing an additional 1,305 shares in the last quarter. Clarius Group LLC grew its holdings in shares of Microchip Technology by 11.5% during the fourth quarter. Clarius Group LLC now owns 4,298 shares of the semiconductor company’s stock worth $246,000 after buying an additional 442 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in shares of Microchip Technology by 683.0% in the fourth quarter. Premier Path Wealth Partners LLC now owns 23,554 shares of the semiconductor company’s stock valued at $1,351,000 after buying an additional 20,546 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its stake in shares of Microchip Technology by 16.0% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 5,311 shares of the semiconductor company’s stock worth $305,000 after buying an additional 732 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Up 0.9 %

MCHP opened at $58.51 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $31.42 billion, a P/E ratio of 40.92 and a beta of 1.52. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. The business has a fifty day simple moving average of $60.87 and a 200-day simple moving average of $73.32.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its earnings results 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. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Susquehanna dropped their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Mizuho reduced their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, TD Cowen dropped their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

Get Our Latest Research Report on MCHP

Microchip Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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