Insider Activity: The Insider, James Bjornholt Unloaded 2,043 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

November 23, 2016 - By Marie Mckinney

Insider Activity: The Insider, James Bjornholt Unloaded 2,043 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

James Bjornholt Insider Sell

The Microchip Technology Inc’s VP and CFO, James Bjornholt, an insider sold – 2,043 Microchip Technology Inc’s shares, based on the average price of $65.2 per share. The reported shares had a value of exactly $133,122 US Dollars. James Bjornholt right now has 14,965 shares which are equivalent to around 0.01% of the Arizona-Company’s market capitalization.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

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 stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Neutral” rating by Bank of America on Monday, November 9. The firm has “Buy” rating by Needham given on Tuesday, November 8. The rating was upgraded by Needham on Monday, January 18 to “Buy”. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Jefferies on Wednesday, August 5. The firm has “Overweight” rating given on Tuesday, January 19 by Morgan Stanley. As per Friday, November 4, the company rating was upgraded by Goldman Sachs. The stock has “Buy” rating given by Drexel Hamilton on Monday, August 24. The rating was upgraded by JP Morgan on Tuesday, September 8 to “Overweight”. As per Tuesday, November 8, the company rating was upgraded by Bank of America. JP Morgan maintained Microchip Technology Inc. (NASDAQ:MCHP) on Tuesday, August 9 with “Overweight” rating.

Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.64, from 1.57 in 2016Q1. The ratio dived, 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.

The Montana-based First Interstate National Bank has invested 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). Quantbot Tech Limited Partnership reported 70,008 shares or 0.38% of all its holdings. Ct Mason holds 99,561 shares or 2.12% of its portfolio. Royal London Asset Management has 0.06% invested in the company for 69,183 shares. National Asset Mgmt Incorporated holds 0.08% or 8,121 shares in its portfolio. Royal Retail Bank Of Canada last reported 3.87 million shares in the company. Nordea Inv Management has 0% invested in the company for 8,639 shares. Atlantic Gru Ltd Llc last reported 0.14% of its portfolio in the stock. Credit Agricole S A has 40,896 shares for 0.01% of their US portfolio. Creative Planning last reported 0% of its portfolio in the stock. Atria Ltd Liability owns 4,431 shares or 0.02% of their US portfolio. Moreover, Schroder Invest Group Inc has 0.2% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 1.96M shares. Partnervest Advisory Svcs Ltd Liability Com holds 6,247 shares or 0.16% of its portfolio. Morgan Stanley holds 773,950 shares or 0.01% of its portfolio. Aperio Group Ltd Liability last reported 0.03% of its portfolio in the stock.

Insider Transactions: Since May 25, 2016, the stock had 0 buys, and 12 selling transactions for $13.89 million net activity. The insider SANGHI STEVE sold $3.64M. SIMONCIC RICHARD J sold 20,000 shares worth $1.21M. $90,751 worth of shares were sold by MEYERCORD WADE F on Friday, August 12. The insider LITTLE MITCHELL R sold $185,227. On Monday, August 22 Bjornholt James Eric sold $149,998 worth of the stock or 2,461 shares. 10,000 shares with value of $516,905 were sold by MOORTHY GANESH on Wednesday, June 1. Another trade for 4,454 shares valued at $271,471 was sold by DREHOBL STEPHEN V.

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 $175.94M 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.

MCHP Company Profile

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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