November 25, 2016 - By Ellis Scott · 0 Comments
Microchip Technology Inc (NASDAQ:MCHP) institutional sentiment decreased to 0.93 in 2016 Q2. Its down -0.64, from 1.57 in 2016Q1. The ratio dropped, as 303 investment professionals opened new and increased equity positions, while 193 sold and decreased their stakes in Microchip Technology Inc. The investment professionals in our partner’s database now own: 214.90 million shares, up from 210.57 million shares in 2016Q1. Also, the number of investment professionals holding Microchip Technology Inc in their top 10 equity positions increased from 4 to 6 for an increase of 2. Sold All: 30 Reduced: 163 Increased: 236 New Position: 67.
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 a market cap of $14.39 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 284.01 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.
The stock decreased 0.05% or $0.03 during the last trading session, hitting $66.08. About 614,689 shares traded hands. Microchip Technology Inc. (NASDAQ:MCHP) has risen 32.99% since April 22, 2016 and is uptrending. It has outperformed by 27.58% the S&P500.
Analysts await Microchip Technology Inc. (NASDAQ:MCHP) to report earnings on February, 1. They expect $0.81 earnings per share, up 32.79% or $0.20 from last year’s $0.61 per share. MCHP’s profit will be $176.39M for 20.40 P/E if the $0.81 EPS becomes a reality. After $0.90 actual earnings per share reported by Microchip Technology Inc. for the previous quarter, Wall Street now forecasts -10.00% negative EPS growth.
According to Zacks Investment Research, “Microchip Technology, Inc. develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications. Its product portfolio comprises microcontrollers; application-specific standard products; and related mixed-signal and memory products. The company markets its products to the consumer, automotive, office automation, communications and industrial markets.”
Coho Partners Ltd. holds 4.33% of its portfolio in Microchip Technology Inc. for 2.34 million shares. Rench Wealth Management Inc. owns 86,635 shares or 3.55% of their US portfolio. Moreover, Brookmont Capital Management has 3.54% invested in the company for 191,277 shares. The Netherlands-based Spf Beheer Bv has invested 3.41% in the stock. Doheny Asset Management Ca, a California-based fund reported 118,670 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 17 selling transactions for $17.78 million net activity.
Ratings analysis reveals 83% of Microchip Technology’s analysts are positive. Out of 12 Wall Street analysts rating Microchip Technology, 10 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $43 while the high is $75. The stock’s average target of $60 is -9.20% below today’s ($66.08) share price. MCHP was included in 22 notes of analysts from August 5, 2015. The firm earned “Buy” rating on Saturday, August 8 by Jefferies. The rating was downgraded by Drexel Hamilton to “Buy” on Monday, August 24. As per Monday, November 9, the company rating was initiated by Bank of America. On Tuesday, August 9 the stock rating was maintained by Jefferies with “Buy”. On Thursday, November 5 the stock rating was upgraded by B. Riley & Co to “Buy”. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Jefferies on Wednesday, August 5. The firm earned “Buy” rating on Tuesday, May 17 by CLSA. Goldman Sachs upgraded the shares of MCHP in a report on Friday, November 4 to “Neutral” rating. As per Tuesday, November 8, the company rating was maintained by Needham. The rating was upgraded by Morgan Stanley to “Overweight” on Tuesday, January 19.
Microchip Technology Incorporated, incorporated on February 14, 1989, is engaged in developing, manufacturing and selling specialized semiconductor products used by its clients for a range of embedded control applications. The Firm operates through two divisions: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, makes and markets microcontrollers, development tools and analog, interface, mixed signal and timing products. The Company’s functional activities include sales, marketing, manufacturing, information technology, human resources, legal and finance.
Another recent and important Microchip Technology Inc. (NASDAQ:MCHP) news was published by Prnewswire.com which published an article titled: “Microchip Technology Announces Sale Of Mobile Touch Assets To Solomon Systech …” on November 01, 2016.
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By Ellis Scott