Argus Research Now Covering Microchip (NASDAQ:MCHP) With $106.0 Target

December 7, 2017 - By Darrin Black

 Argus Research Now Covering Microchip (NASDAQ:MCHP) With $106.0 Target

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.11, from 1.11 in 2017Q1. It is negative, as 38 investors sold Microchip Technology Incorporated shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported.

Dana Investment invested in 0.3% or 81,715 shares. Oakmont holds 517,560 shares or 7.61% of its portfolio. Davidson Advsr, Montana-based fund reported 150,463 shares. Citigroup has 0.02% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 215,537 shares. Moreover, Hartline Investment Corp has 0.46% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Partnervest Advisory Services owns 6,760 shares or 0.24% of their US portfolio. Tiedemann Wealth Mngmt Ltd Liability Corp holds 0.08% in Microchip Technology Incorporated (NASDAQ:MCHP) or 14,216 shares. Crawford Inv Counsel, Georgia-based fund reported 10,557 shares. Godsey Gibb reported 160,127 shares or 2.17% of all its holdings. Williams Jones & Associate Limited Co, New York-based fund reported 87,931 shares. Brinker has 0.15% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Thompson Davis invested 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Bright Rock Capital Management Ltd Liability stated it has 19,800 shares or 0.45% of all its holdings. M&T Bank reported 156,646 shares. Ny State Common Retirement Fund accumulated 516,758 shares.

Why Has Argus Research Given Microchip (NASDAQ:MCHP) a $106.0 Price Target

New York: Microchip (NASDAQ:MCHP) coverage was started with a key ‘Buy’ rating as well as a $106.0 target price per share at Argus Research. The target price per share by Argus Research gives upside of 21.30 % from the current stock price.

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.11, from 1.11 in 2017Q1. It is negative, as 38 investors sold Microchip Technology Incorporated shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported.

Dana Investment invested in 0.3% or 81,715 shares. Oakmont holds 517,560 shares or 7.61% of its portfolio. Davidson Advsr, Montana-based fund reported 150,463 shares. Citigroup has 0.02% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 215,537 shares. Moreover, Hartline Investment Corp has 0.46% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Partnervest Advisory Services owns 6,760 shares or 0.24% of their US portfolio. Tiedemann Wealth Mngmt Ltd Liability Corp holds 0.08% in Microchip Technology Incorporated (NASDAQ:MCHP) or 14,216 shares. Crawford Inv Counsel, Georgia-based fund reported 10,557 shares. Godsey Gibb reported 160,127 shares or 2.17% of all its holdings. Williams Jones & Associate Limited Co, New York-based fund reported 87,931 shares. Brinker has 0.15% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Thompson Davis invested 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Bright Rock Capital Management Ltd Liability stated it has 19,800 shares or 0.45% of all its holdings. M&T Bank reported 156,646 shares. Ny State Common Retirement Fund accumulated 516,758 shares.

Microchip Technology Incorporated (NASDAQ:MCHP) Ratings Coverage

Among 22 analysts covering Microchip Technology (NASDAQ:MCHP), 17 have Buy rating, 0 Sell and 5 Hold. Therefore 77% are positive. Microchip Technology has $123.0 highest and $43 lowest target. $92.40’s average target is 5.73% above currents $87.39 stock price. Microchip Technology had 57 analyst reports since August 5, 2015 according to SRatingsIntel. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Buy” rating given on Tuesday, November 7 by Jefferies. The firm has “Buy” rating given on Monday, September 11 by Jefferies. Needham upgraded the shares of MCHP in report on Wednesday, February 8 to “Strong Buy” rating. The rating was upgraded by Needham to “Buy” on Friday, January 15. Mizuho initiated it with “Neutral” rating and $67 target in Friday, September 30 report. Stifel Nicolaus maintained the shares of MCHP in report on Tuesday, November 7 with “Buy” rating. The firm has “Buy” rating given on Tuesday, April 4 by Summit Redstone Partners. As per Thursday, August 3, the company rating was maintained by Stifel Nicolaus. Goldman Sachs upgraded Microchip Technology Incorporated (NASDAQ:MCHP) on Friday, November 4 to “Neutral” rating. Stifel Nicolaus maintained the shares of MCHP in report on Wednesday, November 30 with “Buy” rating.

The stock increased 1.25% or $1.08 during the last trading session, reaching $87.39. About 1.23 million shares traded. Microchip Technology Incorporated (NASDAQ:MCHP) has risen 68.30% since December 7, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Analysts await Microchip Technology Incorporated (NASDAQ:MCHP) to report earnings on February, 6. They expect $1.27 EPS, up 27.00 % or $0.27 from last year’s $1 per share. MCHP’s profit will be $297.06 million for 17.20 P/E if the $1.27 EPS becomes a reality. After $1.37 actual EPS reported by Microchip Technology Incorporated for the previous quarter, Wall Street now forecasts -7.30 % negative EPS growth.

Microchip Technology Incorporated develops, makes, and sells semiconductor products for various embedded control applications. The company has market cap of $20.44 billion. The firm offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity. It has a 35.99 P/E ratio. It also provides development tools that enable system designers to program microcontroller products for specific applications; analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, radio frequency , drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products; and memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, and serial static random access memories for the production of very small footprint devices.

More important recent Microchip Technology Incorporated (NASDAQ:MCHP) news were published by: Seekingalpha.com which released: “Microchip Technology’s (MCHP) CEO Stephen Sanghi on Q2 2018 Results – Earnings …” on November 07, 2017, also Nasdaq.com published article titled: “Here’s Why You Should Make Position in Microchip (MCHP) Now”, Nasdaq.com published: “Microchip Technology Inc. Reveals 57% Advance In Q2 Earnings” on November 06, 2017. More interesting news about Microchip Technology Incorporated (NASDAQ:MCHP) was released by: Globenewswire.com and their article: “Create Cloud-Connected Embedded Systems with Microchip Technology and Amazon …” with publication date: November 29, 2017.

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