How Will Microchip Technology (NASDAQ:MCHP) Stock React To New Rating Coverage byPiperJaffray?

December 20, 2017 - By Peter Erickson

 How Will Microchip Technology (NASDAQ:MCHP) Stock React To New Rating Coverage byPiperJaffray?

Investors sentiment decreased to 1 in Q2 2017. Its down 0.11, from 1.11 in 2017Q1. It dropped, 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.

Moreover, State Street Corporation has 0.06% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 8.95M shares. Johnson Financial Gru holds 0.01% or 960 shares. Cambridge Research Advsrs Incorporated holds 22,007 shares or 0.02% of its portfolio. Moreover, Girard Prns Ltd has 0.06% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 3,731 shares. Riverhead Capital Ltd Liability Corporation owns 19,230 shares. Envestnet Asset has invested 0.02% in Microchip Technology Incorporated (NASDAQ:MCHP). 1.14 million were accumulated by Cramer Rosenthal Mcglynn Limited Liability Company. Moreover, First Midwest Bancorp Division has 0.05% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Vanguard Gru reported 0.09% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). 1St Advsrs Incorporated reported 31,747 shares stake. Solaris Asset Limited Liability Company stated it has 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Rampart Invest Mngmt Com Llc reported 2,874 shares. Howe And Rusling holds 0.01% or 550 shares. Hightower Advisors Limited Company accumulated 16,233 shares or 0.01% of the stock. British Columbia Inv Mngmt Corp owns 119,181 shares or 0.07% of their US portfolio.

Since August 15, 2017, it had 0 insider purchases, and 5 insider sales for $963,084 activity. The insider LITTLE MITCHELL R sold 2,391 shares worth $195,799. SIMONCIC RICHARD J had sold 2,508 shares worth $205,380 on Tuesday, August 22. MEYERCORD WADE F sold 1,300 shares worth $109,135. Bjornholt James Eric sold $200,876 worth of stock.

Why Has PiperJaffray Given Microchip Technology (NASDAQ:MCHP) a $100 Price Target

In an analyst note revealed on Tuesday, 19 December, PiperJaffray analyst has today started coverage for Microchip Technology (NASDAQ:MCHP) shares with a “Overweight” rating. The target is $100.

Investors sentiment decreased to 1 in Q2 2017. Its down 0.11, from 1.11 in 2017Q1. It dropped, 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.

Moreover, State Street Corporation has 0.06% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 8.95M shares. Johnson Financial Gru holds 0.01% or 960 shares. Cambridge Research Advsrs Incorporated holds 22,007 shares or 0.02% of its portfolio. Moreover, Girard Prns Ltd has 0.06% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 3,731 shares. Riverhead Capital Ltd Liability Corporation owns 19,230 shares. Envestnet Asset has invested 0.02% in Microchip Technology Incorporated (NASDAQ:MCHP). 1.14 million were accumulated by Cramer Rosenthal Mcglynn Limited Liability Company. Moreover, First Midwest Bancorp Division has 0.05% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Vanguard Gru reported 0.09% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). 1St Advsrs Incorporated reported 31,747 shares stake. Solaris Asset Limited Liability Company stated it has 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Rampart Invest Mngmt Com Llc reported 2,874 shares. Howe And Rusling holds 0.01% or 550 shares. Hightower Advisors Limited Company accumulated 16,233 shares or 0.01% of the stock. British Columbia Inv Mngmt Corp owns 119,181 shares or 0.07% of their US portfolio.

Since August 15, 2017, it had 0 insider purchases, and 5 insider sales for $963,084 activity. The insider LITTLE MITCHELL R sold 2,391 shares worth $195,799. SIMONCIC RICHARD J had sold 2,508 shares worth $205,380 on Tuesday, August 22. MEYERCORD WADE F sold 1,300 shares worth $109,135. Bjornholt James Eric sold $200,876 worth of stock.

Microchip Technology Incorporated (NASDAQ:MCHP) Ratings Coverage

Among 23 analysts covering Microchip Technology (NASDAQ:MCHP), 18 have Buy rating, 0 Sell and 5 Hold. Therefore 78% are positive. Microchip Technology has $123.0 highest and $43 lowest target. $94.86’s average target is 5.88% above currents $89.59 stock price. Microchip Technology had 59 analyst reports since August 5, 2015 according to SRatingsIntel. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Buy” rating given on Wednesday, November 30 by Stifel Nicolaus. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) earned “Buy” rating by Jefferies on Monday, July 10. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Buy” rating given on Thursday, November 5 by B. Riley & Co. The firm has “Buy” rating given on Tuesday, August 9 by Citigroup. The company was maintained on Monday, June 12 by Needham. Jefferies maintained Microchip Technology Incorporated (NASDAQ:MCHP) rating on Tuesday, November 7. Jefferies has “Buy” rating and $110 target. The firm earned “Buy” rating on Tuesday, November 7 by Stifel Nicolaus. Drexel Hamilton downgraded the stock to “Buy” rating in Monday, August 24 report. Susquehanna maintained it with “Buy” rating and $107.0 target in Tuesday, November 7 report. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, September 8.

The stock increased 0.70% or $0.62 during the last trading session, reaching $89.59. About 1.76 million shares traded. Microchip Technology Incorporated (NASDAQ:MCHP) has risen 68.30% since December 20, 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 $297.07M for 17.64 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 $20.96 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 36.9 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 notable recent Microchip Technology Incorporated (NASDAQ:MCHP) news were published by: Globenewswire.com which released: “Create Cloud-Connected Embedded Systems with Microchip Technology and Amazon …” on November 29, 2017, also Globenewswire.com with their article: “Microchip Technology to Present at the Raymond James Technology Conference” published on December 01, 2017, Globenewswire.com published: “Protect IP and Deploy Secured Connected Systems with Microchip’s New …” on November 20, 2017. More interesting news about Microchip Technology Incorporated (NASDAQ:MCHP) were released by: Prnewswire.com and their article: “Semiconductor Stocks’ Research Reports Released on Kopin, Microchip Technology …” published on December 06, 2017 as well as Zacks.com‘s news article titled: “Microchip (MCHP) Looks Promising: Should You Buy the Stock?” with publication date: December 20, 2017.

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