Breaking: Microchip (NASDAQ:MCHP) “Buy” Rating Reiterated at Jefferies Today; The TP is Set to $94.0

September 17, 2017 - By Nellie Frank

 Breaking: Microchip (NASDAQ:MCHP)

Investors sentiment decreased to 0.91 in 2016 Q4. Its down 0.02, from 0.93 in 2016Q3. It dived, as 46 investors sold Microchip Technology Inc. shares while 236 reduced holdings. 78 funds opened positions while 179 raised stakes. 208.48 million shares or 1.70% less from 212.08 million shares in 2016Q3 were reported.

275 were accumulated by Barrett Asset. Guggenheim Ltd Liability Co accumulated 1.05 million shares. Cibc Asset Management stated it has 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). First Republic Mgmt has 0.22% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 394,635 shares. Norinchukin Bank & Trust The owns 13,105 shares. 54,487 are owned by Rafferty Asset Mgmt Limited Liability Com. The Nevada-based Whittier Tru Co Of Nevada Inc has invested 0.09% in Microchip Technology Inc. (NASDAQ:MCHP). Ig Invest Mgmt has invested 0.16% in Microchip Technology Inc. (NASDAQ:MCHP). Advsrs Management Lc holds 0.59% in Microchip Technology Inc. (NASDAQ:MCHP) or 95,937 shares. Manufacturers Life Insur The holds 0.04% or 422,538 shares in its portfolio. Sandy Spring Savings Bank has 94,521 shares. Lord Abbett Limited Liability Co invested in 1.75M shares or 0.34% of the stock. Edge Asset holds 1.46% or 2.95 million shares. Louisiana State Employees Retirement invested in 13,600 shares or 0.04% of the stock. Old National Retail Bank In holds 24,894 shares.

Since May 22, 2017, it had 0 insider purchases, and 4 sales for $990,698 activity. LITTLE MITCHELL R sold $243,359 worth of stock or 3,031 shares. Bjornholt James Eric sold 2,510 shares worth $201,528. DREHOBL STEPHEN V sold 3,974 shares worth $319,072.

Microchip (NASDAQ:MCHP) Rating Reaffirmed

Microchip (NASDAQ:MCHP) just had their share rating of a ‘”Buy”‘ issued by research analysts at Jefferies, who now has a $94.0 price target on the $20.86B market cap company or a 4.89 % upside potential. This key information was revealed to investors in a report on Monday morning.

Investors sentiment decreased to 0.91 in 2016 Q4. Its down 0.02, from 0.93 in 2016Q3. It dived, as 46 investors sold Microchip Technology Inc. shares while 236 reduced holdings. 78 funds opened positions while 179 raised stakes. 208.48 million shares or 1.70% less from 212.08 million shares in 2016Q3 were reported.

275 were accumulated by Barrett Asset. Guggenheim Ltd Liability Co accumulated 1.05 million shares. Cibc Asset Management stated it has 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). First Republic Mgmt has 0.22% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 394,635 shares. Norinchukin Bank & Trust The owns 13,105 shares. 54,487 are owned by Rafferty Asset Mgmt Limited Liability Com. The Nevada-based Whittier Tru Co Of Nevada Inc has invested 0.09% in Microchip Technology Inc. (NASDAQ:MCHP). Ig Invest Mgmt has invested 0.16% in Microchip Technology Inc. (NASDAQ:MCHP). Advsrs Management Lc holds 0.59% in Microchip Technology Inc. (NASDAQ:MCHP) or 95,937 shares. Manufacturers Life Insur The holds 0.04% or 422,538 shares in its portfolio. Sandy Spring Savings Bank has 94,521 shares. Lord Abbett Limited Liability Co invested in 1.75M shares or 0.34% of the stock. Edge Asset holds 1.46% or 2.95 million shares. Louisiana State Employees Retirement invested in 13,600 shares or 0.04% of the stock. Old National Retail Bank In holds 24,894 shares.

Since May 22, 2017, it had 0 insider purchases, and 4 sales for $990,698 activity. LITTLE MITCHELL R sold $243,359 worth of stock or 3,031 shares. Bjornholt James Eric sold 2,510 shares worth $201,528. DREHOBL STEPHEN V sold 3,974 shares worth $319,072.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Among 18 analysts covering Microchip Technology (NASDAQ:MCHP), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. Microchip Technology has $12000 highest and $43 lowest target. $85’s average target is -5.16% below currents $89.62 stock price. Microchip Technology had 45 analyst reports since August 5, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Tuesday, January 19 by Morgan Stanley. Needham maintained it with “Buy” rating and $75 target in Tuesday, November 8 report. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Stifel Nicolaus on Thursday, August 3. The stock has “Buy” rating by B. Riley & Co on Friday, August 4. The rating was maintained by Jefferies on Saturday, August 8 with “Buy”. On Thursday, September 7 the stock rating was maintained by Needham with “Buy”. The company was maintained on Monday, July 10 by Jefferies. The firm has “Buy” rating by Jefferies given on Thursday, August 3. The firm earned “Buy” rating on Friday, January 15 by Needham. Mizuho maintained Microchip Technology Inc. (NASDAQ:MCHP) on Wednesday, February 8 with “Neutral” rating.

The stock increased 0.43% or $0.38 on September 15, reaching $89.62. About 4.08M shares traded or 111.40% up from the average. Microchip Technology Inc. (NASDAQ:MCHP) has risen 68.30% since September 17, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Wall Street await Microchip Technology Inc. (NASDAQ:MCHP) to release earnings on November, 6. Analysts forecast EPS of $1.27, up exactly $0.37 or 41.11 % from 2014’s $0.9 EPS. The expected MCHP’s profit could reach $295.61 million giving the stock 17.64 P/E in the case that $1.27 earnings per share is reported. After posting $1.25 EPS for the previous quarter, Microchip Technology Inc.’s analysts now forecast 1.60 % EPS growth.

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 market cap of $20.86 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 47.6 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.

More notable recent Microchip Technology Inc. (NASDAQ:MCHP) news were published by: Bizjournals.com which released: “Microchip hosting engineering job fair, hiring 85 for Chandler headquarters” on September 05, 2017, also Zacks.com with their article: “Microchip Upgraded to Strong Buy on Reaffirmed Q2 Guidance” published on September 06, 2017, Globenewswire.com published: “Microchip Technology Reaffirms Financial Guidance for Second Quarter Fiscal 2018” on September 05, 2017. More interesting news about Microchip Technology Inc. (NASDAQ:MCHP) were released by: Globenewswire.com and their article: “Microchip Extends Custom Programming Service to Include AVR® and SAM …” published on August 21, 2017 as well as Globenewswire.com‘s news article titled: “Low-Voltage 64 Megabit Serial Quad I/Oâ„¢ SuperFlash® Memory from Microchip …” with publication date: September 05, 2017.

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