Insider: The Insider, Richard Simoncic Unloaded 2,892 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

November 23, 2016 - By Adrian Mccoy

Insider: The Insider, Richard Simoncic Unloaded 2,892 Shares of Microchip Technology Inc. (NASDAQ:MCHP)

Richard Simoncic Insider Sell

As discovered in an electronic report that was filled with the D.C. based-SEC on 23-11-2016, Richard Simoncic an insider in Microchip Technology Inc and currently VP – Analog and Intrfc Prod Div, sold shares worth $187,691 USD in the firm. He sold 2,892 shares, at average $64.9 per share. Mr. Richard at present has rights to 48,914 shares, accounting for 0.02% of the company’s market cap.

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) has “Buy” rating given on Tuesday, August 9 by Citigroup. Needham upgraded it to “Buy” rating and $60.0 target price in Friday, January 15 report. The stock has “Buy” rating given by Bank of America on Tuesday, November 8. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Overweight” rating by JP Morgan on Tuesday, September 8. CLSA initiated Microchip Technology Inc. (NASDAQ:MCHP) rating on Tuesday, May 17. CLSA has “Buy” rating and $58 price target. The firm has “Buy” rating by Jefferies given on Saturday, August 8. As per Thursday, November 5, the company rating was upgraded by B. Riley & Co. Mizuho initiated the shares of MCHP in a report on Friday, September 30 with “Neutral” rating. The company was downgraded on Monday, August 24 by Drexel Hamilton. The rating was upgraded by Needham to “Buy” on Monday, January 18.

Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. 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.

Ccm Inv Advisers Ltd Liability Corp has invested 0.03% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Philadelphia Company has invested 1.79% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Axa reported 418,000 shares or 0.09% of all its holdings. Moreover, Calvert Invest Inc has 0.03% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 11,576 shares. Fcm Invs Tx last reported 24,474 shares in the company. Bartlett And Company Limited Liability Corp accumulated 100 shares or 0% of the stock. The Michigan-based State Treasurer State Of Michigan has invested 0.03% in Microchip Technology Inc. (NASDAQ:MCHP). Whittier Tru reported 7,148 shares or 0.02% of all its holdings. Intll Incorporated holds 0% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 88,136 shares. Schroder Invest Mngmt Gp holds 0.2% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 1.96 million shares. Aristotle Capital Limited Liability Com last reported 2.44% of its portfolio in the stock. The Maryland-based Sandy Spring Bankshares has invested 0.58% in Microchip Technology Inc. (NASDAQ:MCHP). Ubs Asset Mngmt Americas holds 0.03% or 563,856 shares in its portfolio. The Switzerland-based Swiss Bank & Trust has invested 0.05% in Microchip Technology Inc. (NASDAQ:MCHP). Pinnacle Limited holds 0.2% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 179,082 shares.

Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 12 insider sales for $13.89 million net activity. Shares for $1.76 million were sold by SANGHI STEVE on Thursday, August 18. $271,471 worth of shares were sold by DREHOBL STEPHEN V on Monday, August 22. Another trade for 20,000 shares valued at $1.21 million was made by SIMONCIC RICHARD J on Wednesday, August 10. 1,500 shares were sold by MEYERCORD WADE F, worth $90,751 on Friday, August 12. On Monday, August 22 LITTLE MITCHELL R sold $185,227 worth of the stock or 3,039 shares. 2,461 Microchip Technology Inc. (NASDAQ:MCHP) shares with value of $149,998 were sold by Bjornholt James Eric. Shares for $516,905 were sold by MOORTHY GANESH on Wednesday, June 1.

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.

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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