Argus Research Initiates Coverage on Microchip (NASDAQ:MCHP). What May be Next?

December 7, 2017 - By Michael Collier

 Argus Research Initiates Coverage on Microchip (NASDAQ:MCHP). What May be Next?

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.11, from 1.11 in 2017Q1. It fall, as 38 investors sold Microchip Technology Incorporated shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported.

Gp One Trading Limited Partnership holds 0% or 3,827 shares in its portfolio. Macquarie owns 0.02% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 132,038 shares. Thompson Davis And Company invested 0.03% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Harber Asset Ltd owns 25,783 shares. Arrow Financial reported 0.01% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Public Employees Retirement Association Of Colorado owns 899,047 shares or 0.51% of their US portfolio. Shellback Lp stated it has 0.67% in Microchip Technology Incorporated (NASDAQ:MCHP). Conning reported 5,435 shares or 0.02% of all its holdings. 1,180 are held by Washington Trust National Bank. Mirae Asset Glob Invs Ltd reported 11,274 shares or 0.02% of all its holdings. 115,000 were accumulated by Robecosam Ag. Teacher Retirement System Of Texas owns 299,592 shares. 26,930 are owned by Laffer Investments. Putnam Invests Ltd reported 4,485 shares or 0% of all its holdings. Td Asset Mgmt stated it has 0.07% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP).

Why Has Argus Research Given Microchip (NASDAQ:MCHP) a $106.0 Price Target

Research professionals at Argus Research began coverage on Microchip (NASDAQ:MCHP) with a key “Buy” rating. The target price for MCHP is exactly $106.0. It gives a possible upside of 21.30 % from company’s current price.

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.11, from 1.11 in 2017Q1. It fall, as 38 investors sold Microchip Technology Incorporated shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported.

Gp One Trading Limited Partnership holds 0% or 3,827 shares in its portfolio. Macquarie owns 0.02% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 132,038 shares. Thompson Davis And Company invested 0.03% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Harber Asset Ltd owns 25,783 shares. Arrow Financial reported 0.01% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Public Employees Retirement Association Of Colorado owns 899,047 shares or 0.51% of their US portfolio. Shellback Lp stated it has 0.67% in Microchip Technology Incorporated (NASDAQ:MCHP). Conning reported 5,435 shares or 0.02% of all its holdings. 1,180 are held by Washington Trust National Bank. Mirae Asset Glob Invs Ltd reported 11,274 shares or 0.02% of all its holdings. 115,000 were accumulated by Robecosam Ag. Teacher Retirement System Of Texas owns 299,592 shares. 26,930 are owned by Laffer Investments. Putnam Invests Ltd reported 4,485 shares or 0% of all its holdings. Td Asset Mgmt stated it has 0.07% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP).

Microchip Technology Incorporated (NASDAQ:MCHP) Ratings Coverage

Among 22 analysts covering Microchip Technology (NASDAQ:MCHP), 17 have Buy rating, 0 Sell and 5 Hold. Therefore 77% are positive. Microchip Technology has $123.0 highest and $43 lowest target. $92.40’s average target is 5.73% above currents $87.39 stock price. Microchip Technology had 57 analyst reports since August 5, 2015 according to SRatingsIntel. On Tuesday, May 17 the stock rating was initiated by CLSA with “Buy”. Jefferies maintained it with “Buy” rating and $48 target in Wednesday, August 5 report. The stock has “Buy” rating by Jefferies on Monday, July 10. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, September 26 report. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Overweight” rating given on Tuesday, August 9 by JP Morgan. As per Tuesday, September 8, the company rating was upgraded by JP Morgan. Needham upgraded it to “Buy” rating and $60.0 target in Friday, January 15 report. The firm earned “Neutral” rating on Monday, November 9 by Bank of America. B. Riley & Co maintained the stock with “Buy” rating in Tuesday, November 7 report. Jefferies maintained it with “Buy” rating and $48 target in Saturday, August 8 report.

The stock increased 1.25% or $1.08 during the last trading session, reaching $87.39. About 1.23M shares traded. Microchip Technology Incorporated (NASDAQ:MCHP) has risen 68.30% since December 7, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Analysts await Microchip Technology Incorporated (NASDAQ:MCHP) to report earnings on February, 6. They expect $1.27 earnings per share, up 27.00 % or $0.27 from last year’s $1 per share. MCHP’s profit will be $297.06 million for 17.20 P/E if the $1.27 EPS becomes a reality. After $1.37 actual earnings per share reported by Microchip Technology Incorporated for the previous quarter, Wall Street now forecasts -7.30 % negative EPS growth.

Microchip Technology Incorporated develops, makes, and sells semiconductor products for various embedded control applications. The company has market cap of $20.44 billion. The firm offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity. It has a 35.99 P/E ratio. It also provides development tools that enable system designers to program microcontroller products for specific applications; analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, radio frequency , drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products; and memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, and serial static random access memories for the production of very small footprint devices.

More important recent Microchip Technology Incorporated (NASDAQ:MCHP) news were published by: Nasdaq.com which released: “Microchip Technology Inc. Reveals 57% Advance In Q2 Earnings” on November 06, 2017, also Seekingalpha.com published article titled: “Microchip Technology’s (MCHP) CEO Stephen Sanghi on Q2 2018 Results – Earnings …”, Nasdaq.com published: “Here’s Why You Should Make Position in Microchip (MCHP) Now” on November 29, 2017. More interesting news about Microchip Technology Incorporated (NASDAQ:MCHP) was released by: Globenewswire.com and their article: “Create Cloud-Connected Embedded Systems with Microchip Technology and Amazon …” with publication date: November 29, 2017.

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