November 23, 2016 - By Peter Kolinski
After the disclosing of a legal report filled with Security Exchange Commission; a insider trading trade became apparent. The VP – WW Sales and Appns. of Microchip Technology Inc, Mitchell Little; made a transaction in the open market by unloading 2,383 shares at the average share price which was $65.2 of the Arizona-based company having a total value of $155,276 U.S Dollars. The probability of this sell remaining unnoticed is extremely low as it’s new, with Mitchell Little now owning 11,718 shares — that is 0.01% of the Company’s market capitalization.
Out of 12 analysts covering Microchip Technology (NASDAQ:MCHP), 10 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 83% are positive. $75 is the highest target while $43 is the lowest. The $60 average target is -9.24% below today’s ($66.11) stock price. Microchip Technology has been the topic of 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was initiated by Bank of America on Monday, November 9 with “Neutral”. The firm has “Buy” rating given on Tuesday, August 9 by Citigroup. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by B. Riley & Co on Thursday, November 5. Goldman Sachs upgraded the shares of MCHP in a report on Friday, November 4 to “Neutral” rating. On Monday, January 18 the stock rating was upgraded by Needham to “Buy”. The firm has “Buy” rating given on Wednesday, August 5 by Jefferies. Mizuho initiated Microchip Technology Inc. (NASDAQ:MCHP) on Friday, September 30 with “Neutral” rating. Jefferies maintained Microchip Technology Inc. (NASDAQ:MCHP) rating on Saturday, August 8. Jefferies has “Buy” rating and $48 price target. Needham maintained Microchip Technology Inc. (NASDAQ:MCHP) on Tuesday, November 8 with “Buy” rating. Needham upgraded the shares of MCHP in a report on Friday, January 15 to “Buy” rating.
Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.64, from 1.57 in 2016Q1. The ratio turned negative, as 30 funds sold all Microchip Technology Inc. shares owned while 163 reduced positions. 67 funds bought stakes while 236 increased positions. They now own 214.90 million shares or 2.05% more from 210.57 million shares in 2016Q1.
Invest Mgmt Of Virginia Lc has invested 0.82% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Fincl Bank Of The Ozarks, a Arkansas-based fund reported 4,555 shares. Tiaa Cref Fsb Mo accumulated 10,016 shares or 0% of the stock. Federated Pa accumulated 0% or 25,521 shares. Hightower Advisors Ltd Liability Corp last reported 0.01% of its portfolio in the stock. Pioneer Mgmt accumulated 0.12% or 674,459 shares. Denver Inv Advisors Ltd Liability Com reported 13,037 shares or 0.03% of all its holdings. First Manhattan holds 0% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 169 shares. Renaissance Tech Ltd Co, a New York-based fund reported 490,728 shares. Edge Asset Mgmt holds 1.88% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 4.16 million shares. Abner Herrman And Brock Limited Co last reported 0.07% of its portfolio in the stock. Advsr Asset holds 0.03% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 38,825 shares. Parametric Port Assocs Ltd Liability holds 0.07% or 849,304 shares in its portfolio. Pennsylvania Tru Co last reported 15,454 shares in the company. Wesbanco Fincl Bank Incorporated last reported 24,000 shares in the company.
Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 12 sales for $13.89 million net activity. SANGHI STEVE also sold $2.32M worth of Microchip Technology Inc. (NASDAQ:MCHP) on Tuesday, May 31. $516,905 worth of shares were sold by MOORTHY GANESH on Wednesday, June 1. MEYERCORD WADE F sold 1,500 shares worth $90,751. Shares for $185,776 were sold by SIMONCIC RICHARD J. LITTLE MITCHELL R sold 3,039 shares worth $185,227. Bjornholt James Eric had sold 2,461 shares worth $149,998. The insider DREHOBL STEPHEN V sold $271,471.
The stock increased 0.82% or $0.54 during the last trading session, hitting $66.11. About 1.71 million shares traded hands. Microchip Technology Inc. (NASDAQ:MCHP) has risen 32.65% since April 21, 2016 and is uptrending. It has outperformed by 27.32% 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 a market cap of $14.36 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 284.14 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.
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.”
Analysts await Microchip Technology Inc. (NASDAQ:MCHP) to report earnings on February, 1. They expect $0.81 EPS, up 32.79% or $0.20 from last year’s $0.61 per share. MCHP’s profit will be $175.94 million for 20.40 P/E if the $0.81 EPS becomes a reality. After $0.90 actual EPS reported by Microchip Technology Inc. for the previous quarter, Wall Street now forecasts -10.00% negative EPS growth.
Another recent and important Microchip Technology Inc. (NASDAQ:MCHP) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Microchip Technology, Ryder System and Moody’s” on November 15, 2016.
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.
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