Reaffirmed: Microchip (NASDAQ:MCHP) “Buy” Rating Reaffirmed by Analysts at Jefferies; $94.0 Target in Place

September 17, 2017 - By Marguerite Chambers

 Reaffirmed: Microchip (NASDAQ:MCHP)

Investors sentiment decreased to 0.91 in 2016 Q4. Its down 0.02, from 0.93 in 2016Q3. It is negative, 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.

Stephens Inc Ar stated it has 0.14% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). 505,722 are held by Millennium Mgmt Ltd Company. Ww Asset Mgmt holds 0.05% or 19,997 shares. Nomura Asset Co stated it has 0.13% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). First Natl Trust reported 0.03% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Cadence Cap Mngmt Ltd reported 23,888 shares. Tower Cap Ltd Limited Liability Company (Trc) owns 800 shares. Strs Ohio has 10,211 shares for 0% of their portfolio. Exane Derivatives stated it has 61,934 shares or 0% of all its holdings. Abner Herrman Brock Lc reported 5,795 shares. Leavell Inv Inc reported 0.05% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Argent has 5,352 shares. Mutual Of America Capital Management Ltd Limited Liability Company reported 29,626 shares. Blackrock has invested 0.04% in Microchip Technology Inc. (NASDAQ:MCHP). Suntrust Banks Incorporated stated it has 26,160 shares or 0.01% of all its holdings.

Since May 22, 2017, it had 0 insider buys, and 4 insider sales for $990,698 activity. $201,528 worth of stock was sold by Bjornholt James Eric on Monday, May 22. 3,031 shares were sold by LITTLE MITCHELL R, worth $243,359 on Monday, May 22. $319,072 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by DREHOBL STEPHEN V.

Microchip (NASDAQ:MCHP) Rating Reaffirmed

Jefferies now has a $94.0 PT on shares of Microchip (NASDAQ:MCHP). The PT would indicate a potential upside of 4.89 % from the last stock price of Microchip (NASDAQ:MCHP). This rating was revealed in an analyst note on 11 September.

Investors sentiment decreased to 0.91 in 2016 Q4. Its down 0.02, from 0.93 in 2016Q3. It is negative, 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.

Stephens Inc Ar stated it has 0.14% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). 505,722 are held by Millennium Mgmt Ltd Company. Ww Asset Mgmt holds 0.05% or 19,997 shares. Nomura Asset Co stated it has 0.13% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). First Natl Trust reported 0.03% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Cadence Cap Mngmt Ltd reported 23,888 shares. Tower Cap Ltd Limited Liability Company (Trc) owns 800 shares. Strs Ohio has 10,211 shares for 0% of their portfolio. Exane Derivatives stated it has 61,934 shares or 0% of all its holdings. Abner Herrman Brock Lc reported 5,795 shares. Leavell Inv Inc reported 0.05% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Argent has 5,352 shares. Mutual Of America Capital Management Ltd Limited Liability Company reported 29,626 shares. Blackrock has invested 0.04% in Microchip Technology Inc. (NASDAQ:MCHP). Suntrust Banks Incorporated stated it has 26,160 shares or 0.01% of all its holdings.

Since May 22, 2017, it had 0 insider buys, and 4 insider sales for $990,698 activity. $201,528 worth of stock was sold by Bjornholt James Eric on Monday, May 22. 3,031 shares were sold by LITTLE MITCHELL R, worth $243,359 on Monday, May 22. $319,072 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by DREHOBL STEPHEN V.

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 has $12000 highest and $43 lowest target. $85’s average target is -5.16% below currents $89.62 stock price. Microchip Technology had 45 analyst reports since August 5, 2015 according to SRatingsIntel. The stock has “Buy” rating by Citigroup on Tuesday, August 9. The stock has “Buy” rating by CLSA on Tuesday, May 17. Rosenblatt maintained Microchip Technology Inc. (NASDAQ:MCHP) on Tuesday, June 6 with “Buy” rating. Jefferies maintained Microchip Technology Inc. (NASDAQ:MCHP) on Thursday, August 3 with “Buy” rating. As per Monday, November 9, the company rating was initiated by Bank of America. As per Tuesday, August 9, the company rating was maintained by Jefferies. Drexel Hamilton downgraded the shares of MCHP in report on Monday, August 24 to “Buy” rating. Needham maintained Microchip Technology Inc. (NASDAQ:MCHP) rating on Tuesday, November 8. Needham has “Buy” rating and $75 target. Goldman Sachs maintained the shares of MCHP in report on Tuesday, April 5 with “Sell” rating. B. Riley & Co upgraded Microchip Technology Inc. (NASDAQ:MCHP) on Thursday, November 5 to “Buy” rating.

The stock increased 0.43% or $0.38 on September 15, reaching $89.62. About 4.08 million 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.

Investors wait Microchip Technology Inc. (NASDAQ:MCHP) to report on November, 6. its quarterly earnings Wall Street analysts expect $1.27 EPS, up $0.37 or 41.11 % from last year’s $0.9 same quarter earnings. This translates into $295.61 million profit for MCHP giving the stock a 17.64 P/E. This is assuming the current $1.27 EPS is accurate. Microchip Technology Inc.’s Wall Street analysts see 1.60 % EPS growth, taking into account the $1.25 EPS reproted in the previous quarter,

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.

More notable recent Microchip Technology Inc. (NASDAQ:MCHP) news were published by: Globenewswire.com which released: “Microchip Technology Reaffirms Financial Guidance for Second Quarter Fiscal 2018” on September 05, 2017, also Nasdaq.com with their article: “January 2020 Options Now Available For Microchip Technology (MCHP)” published on September 11, 2017, Zacks.com published: “Microchip Upgraded to Strong Buy on Reaffirmed Q2 Guidance” on September 06, 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 Globenewswire.com‘s news article titled: “Microchip Extends Custom Programming Service to Include AVR® and SAM …” with publication date: August 21, 2017.

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