November 23, 2016 - By Hazel Jackson
Stephen Drehobl, the VP – MCU8 Division of Microchip Technology Inc made insider sale of 3,494 shares with an average share price of $65.2 in the Arizona-based Microchip Technology Inc, that are having a value of $227,669 U.S. Dollars. Stephen Drehobl right now owns 13,710 shares or 0.01% of the Company’s total market cap. The trade, dated 23/11/2016, is recorded on a report which was filed with the (SEC) and is also freely accessible here.
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. Jefferies maintained it with “Buy” rating and $48 target price in Saturday, August 8 report. On Tuesday, May 17 the stock rating was initiated by CLSA with “Buy”. As per Tuesday, September 8, the company rating was upgraded by JP Morgan. Needham upgraded the shares of MCHP in a report on Monday, January 18 to “Buy” rating. The firm has “Buy” rating given on Friday, January 15 by Needham. JP Morgan maintained the shares of MCHP in a report on Tuesday, August 9 with “Overweight” rating. Mizuho initiated it with “Neutral” rating and $67 target price in Friday, September 30 report. As per Tuesday, November 8, the company rating was upgraded by Bank of America. Needham maintained the stock with “Buy” rating in Tuesday, November 8 report. On Thursday, November 5 the stock rating was upgraded by B. Riley & Co to “Buy”.
Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.64, from 1.57 in 2016Q1. The ratio fall, 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 California-based Assetmark has invested 0.28% in Microchip Technology Inc. (NASDAQ:MCHP). First Manhattan Company accumulated 0% or 169 shares. Van Eck Associates has 0.04% invested in the company for 169,888 shares. Barclays Plc holds 154,777 shares or 0.01% of its portfolio. The West Virginia-based City has invested 0.77% in Microchip Technology Inc. (NASDAQ:MCHP). Moreover, Symphony Asset Management Limited Company has 0.39% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 68,500 shares. Of Vermont holds 1,400 shares or 0.01% of its portfolio. Philadelphia Tru holds 408,442 shares or 1.79% of its portfolio. Advisory Ser Ltd Llc holds 0% or 415 shares in its portfolio. Villere St Denis J Company Llc reported 136,590 shares or 0.42% of all its holdings. Gulf International Natl Bank (Uk) Limited has 59,277 shares for 0.05% of their US portfolio. Cubist Systematic Strategies Lc last reported 26,639 shares in the company. Crestpoint Capital Mgmt Limited Com last reported 12,900 shares in the company. Fund Sa accumulated 23,752 shares or 0.01% of the stock. Vigilant Cap Mngmt Ltd Liability Corp owns 160 shares or 0% of their US portfolio.
Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 12 sales for $13.89 million net activity. The insider DREHOBL STEPHEN V sold $271,471. SANGHI STEVE sold 26,308 shares worth $1.69 million. SIMONCIC RICHARD J also sold $185,776 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares. $185,227 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by LITTLE MITCHELL R. Another trade for 10,000 shares valued at $516,905 was made by MOORTHY GANESH on Wednesday, June 1. Bjornholt James Eric sold $149,998 worth of stock or 2,461 shares. Another trade for 1,500 shares valued at $90,751 was made by MEYERCORD WADE F on Friday, August 12.
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.
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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