Today’s Rating: Microchip (MCHP) “Buy” Rating Reaffirmed by Stifel; With $70.0 Target

November 30, 2016 - By whatsonthorold

Today's Rating: Microchip (MCHP)

Microchip (MCHP) Rating

The company have set TP of $70.0 on Microchip (MCHP) shares. This is 6.01% from the last stock close price. In a research note made public on Wednesday morning, Stifel reaffirmed their “Buy” rating on shares of MCHP.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Out of 4 analysts covering Microchip (MCHP), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $75.0 is the highest target while $67.0 is the lowest. The $71 average target is 8.65% above today’s ($65.35) stock price. Microchip has been the topic of 4 analyst reports since September 30, 2016 according to StockzIntelligence Inc. The rating was upgraded by Goldman Sachs on Friday, November 4 to “Neutral”. The firm has “Buy” rating given on Tuesday, November 8 by Bank of America. The stock has “Neutral” rating given by Mizuho on Friday, September 30. Needham maintained it with “Buy” rating and $75.0 target price in Tuesday, November 8 report.

About 40 shares traded hands. Microchip Technology Inc. (MCHP) has risen 31.17% since April 27, 2016 and is uptrending. It has outperformed by 25.94% the S&P500.

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 $177.12M for 20.17 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.

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

Tiaa Cref Fsb Mo last reported 0% of its portfolio in the stock. Comerica Commercial Bank holds 0.03% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 59,669 shares. First Trust Advsrs Ltd Partnership holds 0.07% or 413,892 shares in its portfolio. Texas Yale Capital holds 4,982 shares or 0.03% of its portfolio. Carroll Finance Associate holds 0% or 285 shares in its portfolio. Washington Tru has 155,401 shares for 0.53% of their US portfolio. Robecosam Usa Incorporated holds 0.98% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 15,500 shares. Godsey And Gibb Assocs accumulated 2.28% or 247,681 shares. Vanguard, a Pennsylvania-based fund reported 20.39M shares. Foundry Prns Ltd Liability Corp last reported 32,840 shares in the company. Advisory Service has invested 0.09% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). First Mercantile Trust reported 7,535 shares or 0.05% of all its holdings. Valley Advisers Incorporated last reported 250 shares in the company. Great West Life Assurance Can holds 164,731 shares or 0.03% of its portfolio. Concert Wealth Mngmt holds 0.03% or 4,761 shares in its portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 15 insider sales for $14.94 million net activity. Shares for $227,669 were sold by DREHOBL STEPHEN V on Tuesday, November 22. LITTLE MITCHELL R sold $185,227 worth of Microchip Technology Inc. (NASDAQ:MCHP) on Monday, August 22. $3.64M worth of Microchip Technology Inc. (NASDAQ:MCHP) was sold by SANGHI STEVE. 2,043 Microchip Technology Inc. (NASDAQ:MCHP) shares with value of $133,122 were sold by Bjornholt James Eric. $1.21 million worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by SIMONCIC RICHARD J. The insider MOORTHY GANESH sold 10,000 shares worth $516,905. MEYERCORD WADE F had sold 1,500 shares worth $90,751.

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 $14.29 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 283.79 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.”

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.

Another recent and important Microchip Technology Inc. (NASDAQ:MCHP) news was published by Forbes.com which published an article titled: “Mattel Becomes #1 Most Shorted Nasdaq 100 Component, Replacing Microchip …” on November 28, 2016.

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