Raymond James Now Covering Microchip Technology (NDAQ:MCHP) With $95.00 Target

June 19, 2017 - By Henry Gaston

 Raymond James Now Covering Microchip Technology (NDAQ:MCHP) With $95.00 Target

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.02, from 0.93 in 2016Q3. It dived, as 46 investors sold Microchip Technology Inc. shares while 236 reduced holdings. 78 funds opened positions while 179 raised stakes. 208.48 million shares or 1.70% less from 212.08 million shares in 2016Q3 were reported.

Alexandria Capital Ltd owns 671 shares for 0.01% of their portfolio. Smithfield Communications owns 0.02% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 2,068 shares. Pnc Svcs Incorporated accumulated 0% or 68,341 shares. 20,972 are owned by Cambridge Inv. Suntrust Banks Incorporated stated it has 0.01% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Iberiabank owns 56,135 shares. Campbell & Communications Investment Adviser Lc has invested 1.52% in Microchip Technology Inc. (NASDAQ:MCHP). Cornerstone holds 0.14% or 2,584 shares. Nicholas Inc Wi has 0.48% invested in Microchip Technology Inc. (NASDAQ:MCHP). Boston Private Wealth Ltd holds 0.34% or 129,334 shares. Moreover, First Merchants Corporation has 0.82% invested in Microchip Technology Inc. (NASDAQ:MCHP). Earnest Partners Ltd Limited Liability Company invested 0% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Raymond James Assoc accumulated 1.40 million shares or 0.23% of the stock. Ls Lc has 0.03% invested in Microchip Technology Inc. (NASDAQ:MCHP). 24,000 are held by Wesbanco Bancorporation.

Since February 13, 2017, it had 0 insider buys, and 13 selling transactions for $8.18 million activity. MEYERCORD WADE F sold $423,940 worth of stock or 6,000 shares. $210,036 worth of stock was sold by SIMONCIC RICHARD J on Wednesday, February 22. DREHOBL STEPHEN V also sold $319,072 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares. 6,000 shares were sold by DAY L B, worth $425,408. LITTLE MITCHELL R sold $318,664 worth of stock or 4,321 shares. CHAPMAN MATTHEW W had sold 15,000 shares worth $1.06M on Monday, February 13.

Why Has Raymond James Given Microchip Technology (NDAQ:MCHP) a $95.00 Price Target

Equity research analysts at Raymond James started coverage on shares of Microchip Technology (NDAQ:MCHP) in a research note revealed to clients and investors on Friday morning. The firm set “Outperform” rating on the stock. Raymond James’s target price of $95.00 suggests potential of 16.95 % from the stock’s previous close.

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.02, from 0.93 in 2016Q3. It dived, as 46 investors sold Microchip Technology Inc. shares while 236 reduced holdings. 78 funds opened positions while 179 raised stakes. 208.48 million shares or 1.70% less from 212.08 million shares in 2016Q3 were reported.

Alexandria Capital Ltd owns 671 shares for 0.01% of their portfolio. Smithfield Communications owns 0.02% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 2,068 shares. Pnc Svcs Incorporated accumulated 0% or 68,341 shares. 20,972 are owned by Cambridge Inv. Suntrust Banks Incorporated stated it has 0.01% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Iberiabank owns 56,135 shares. Campbell & Communications Investment Adviser Lc has invested 1.52% in Microchip Technology Inc. (NASDAQ:MCHP). Cornerstone holds 0.14% or 2,584 shares. Nicholas Inc Wi has 0.48% invested in Microchip Technology Inc. (NASDAQ:MCHP). Boston Private Wealth Ltd holds 0.34% or 129,334 shares. Moreover, First Merchants Corporation has 0.82% invested in Microchip Technology Inc. (NASDAQ:MCHP). Earnest Partners Ltd Limited Liability Company invested 0% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Raymond James Assoc accumulated 1.40 million shares or 0.23% of the stock. Ls Lc has 0.03% invested in Microchip Technology Inc. (NASDAQ:MCHP). 24,000 are held by Wesbanco Bancorporation.

Since February 13, 2017, it had 0 insider buys, and 13 selling transactions for $8.18 million activity. MEYERCORD WADE F sold $423,940 worth of stock or 6,000 shares. $210,036 worth of stock was sold by SIMONCIC RICHARD J on Wednesday, February 22. DREHOBL STEPHEN V also sold $319,072 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares. 6,000 shares were sold by DAY L B, worth $425,408. LITTLE MITCHELL R sold $318,664 worth of stock or 4,321 shares. CHAPMAN MATTHEW W had sold 15,000 shares worth $1.06M on Monday, February 13.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Among 4 analysts covering Microchip Technology (NDAQ:MCHP), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Microchip Technology has $100 highest and $82 lowest target. $91.25’s average target is 12.02% above currents $81.46 stock price. Microchip Technology had 4 analyst reports since April 5, 2017 according to SRatingsIntel. Needham maintained the shares of MCHP in report on Thursday, May 11 with “Strong-Buy” rating. The stock has “Outperform” rating by Raymond James on Friday, June 16. As per Wednesday, April 5, the company rating was upgraded by Summit Redstone.

About 655 shares traded. Microchip Technology Inc. (NDAQ:MCHP) has risen 68.30% since June 19, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its clients for a range of embedded control applications. The company has market cap of $18.56 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 121.09 P/E ratio. In the semiconductor products segment, the Company designs, develops, makes and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

Another recent and important Microchip Technology Inc. (NASDAQ:MCHP) news was published by Gurufocus.com which published an article titled: “Microchip Technology Inc (MCHP) Files 10-K for the Fiscal Year Ended on March …” on May 30, 2017.

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