Could Microchip Technology Inc. (MCHP) See a Reversal After Breaking Its 52-Week High?

September 17, 2017 - By Henry Gaston

Investors sentiment decreased to 0.91 in 2016 Q4. 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.
Commerzbank Aktiengesellschaft Fi has invested 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). California-based Fdx Advsr has invested 0.06% in Microchip Technology Inc. (NASDAQ:MCHP). Moreover, Wasatch Inc has 0.02% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 22,161 shares. 5,252 are owned by Cleararc Cap Inc. Segall Bryant Hamill Limited Liability Company has 0.83% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 516,341 shares. Dubuque Comml Bank And Tru invested in 390 shares or 0% of the stock. Investment Mngmt Of Virginia accumulated 60,370 shares or 0.93% of the stock. Blackrock Inv Mngmt Ltd Limited Liability Company reported 466,953 shares stake. Gavekal Cap Limited Liability Corporation invested 2.17% in Microchip Technology Inc. (NASDAQ:MCHP). Trexquant Investment L P holds 26,900 shares. Moreover, Opus Investment Management Incorporated has 0.87% invested in Microchip Technology Inc. (NASDAQ:MCHP). 63,350 were accumulated by Comm Natl Bank. Tarbox reported 70 shares stake. Janus Cap Lc holds 0.35% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 6.46 million shares. State Street stated it has 9.01 million shares or 0.05% of all its holdings.

Since May 22, 2017, it had 0 insider buys, and 4 sales for $990,698 activity. Bjornholt James Eric sold 2,510 shares worth $201,528. 2,824 Microchip Technology Inc. (NASDAQ:MCHP) shares with value of $226,739 were sold by SIMONCIC RICHARD J. 3,031 shares valued at $243,359 were sold by LITTLE MITCHELL R on Monday, May 22.

The stock of Microchip Technology Inc. (NASDAQ:MCHP) hit a new 52-week high and has $95.00 target or 6.00 % above today’s $89.62 share price. The 5 months bullish chart indicates low risk for the $20.86B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $95.00 price target is reached, the company will be worth $1.25B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.43% or $0.38 on September 15, reaching $89.62. About 4.08M shares traded or 111.40% up from the average. Microchip Technology Inc. (NASDAQ:MCHP) has risen 68.30% since September 17, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Analysts expect Microchip Technology Inc. (NASDAQ:MCHP) to report $1.27 EPS on November, 6.They anticipate $0.37 EPS change or 41.11 % from last quarter’s $0.9 EPS. MCHP’s profit would be $295.61 million giving it 17.64 P/E if the $1.27 EPS is correct. After having $1.25 EPS previously, Microchip Technology Inc.’s analysts see 1.60 % EPS growth.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Among 18 analysts covering Microchip Technology (NASDAQ:MCHP), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. Microchip Technology had 45 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Thursday, August 3 with “Buy”. The company was maintained on Tuesday, June 6 by Susquehanna. The company was maintained on Tuesday, June 6 by B. Riley & Co. The stock has “Sell” rating by Goldman Sachs on Tuesday, April 5. The stock has “Buy” rating by Needham on Monday, January 18. The company was maintained on Thursday, September 7 by Needham. The firm has “Buy” rating by Bank of America given on Tuesday, November 8. The stock of Microchip Technology Inc. (NASDAQ:MCHP) has “Buy” rating given on Tuesday, April 4 by Summit Redstone Partners. CLSA initiated the stock with “Buy” rating in Tuesday, May 17 report. The stock has “Buy” rating by Needham on Friday, January 15.

More notable recent Microchip Technology Inc. (NASDAQ:MCHP) news were published by: Zacks.com which released: “Microchip Upgraded to Strong Buy on Reaffirmed Q2 Guidance” on September 06, 2017, also Globenewswire.com with their article: “Microchip Extends Custom Programming Service to Include AVR® and SAM …” published on August 21, 2017, Globenewswire.com published: “Microchip Technology Reaffirms Financial Guidance for Second Quarter Fiscal 2018” on September 05, 2017. More interesting news about Microchip Technology Inc. (NASDAQ:MCHP) were released by: Globenewswire.com and their article: “Low-Voltage 64 Megabit Serial Quad I/Oâ„¢ SuperFlash® Memory from Microchip …” published on September 05, 2017 as well as Bizjournals.com‘s news article titled: “Microchip hosting engineering job fair, hiring 85 for Chandler headquarters” with publication date: September 05, 2017.

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 $20.86 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 47.6 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.

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