Microchip (NASDAQ:MCHP) Reaching An Inflection Point; Argus Research Initiates Shares At “Buy” with $106.0 target

December 7, 2017 - By Stephen Andrade

 Microchip (NASDAQ:MCHP) Reaching An Inflection Point; Argus Research Initiates Shares At

Investors sentiment decreased to 1 in Q2 2017. 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.

Louisiana State Employees Retirement Systems stated it has 14,200 shares or 0.05% of all its holdings. Columbus Circle invested in 0.23% or 181,965 shares. Pacad Investment Limited holds 0.16% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP) for 14,000 shares. Barclays Pcl has 176,924 shares. Pnc Finance Ser Grp Incorporated stated it has 0.01% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Veritable Ltd Partnership owns 3,883 shares. Mirae Asset Global Invests Limited reported 0.02% in Microchip Technology Incorporated (NASDAQ:MCHP). Commonwealth Savings Bank Of Australia reported 2,124 shares or 0% of all its holdings. Coastline Tru Com has 0.09% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Connor Clark And Lunn Invest Management Limited owns 0.01% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 21,900 shares. Westchester Cap Mgmt has 101,600 shares for 3.58% of their portfolio. 120 were reported by Ruggie Group. Ibm Retirement Fund stated it has 0.08% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Citizens And Northern holds 0.55% in Microchip Technology Incorporated (NASDAQ:MCHP) or 8,989 shares. Paloma Prtnrs Mgmt reported 6,230 shares.

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

Research analysts at Argus Research initiated coverage on Microchip (NASDAQ:MCHP) with a key “Buy” rating. The price target for MCHP is $106.0. It means a possible upside of 21.30 % from firm’s previous stock close.

Investors sentiment decreased to 1 in Q2 2017. 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.

Louisiana State Employees Retirement Systems stated it has 14,200 shares or 0.05% of all its holdings. Columbus Circle invested in 0.23% or 181,965 shares. Pacad Investment Limited holds 0.16% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP) for 14,000 shares. Barclays Pcl has 176,924 shares. Pnc Finance Ser Grp Incorporated stated it has 0.01% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Veritable Ltd Partnership owns 3,883 shares. Mirae Asset Global Invests Limited reported 0.02% in Microchip Technology Incorporated (NASDAQ:MCHP). Commonwealth Savings Bank Of Australia reported 2,124 shares or 0% of all its holdings. Coastline Tru Com has 0.09% invested in Microchip Technology Incorporated (NASDAQ:MCHP). Connor Clark And Lunn Invest Management Limited owns 0.01% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 21,900 shares. Westchester Cap Mgmt has 101,600 shares for 3.58% of their portfolio. 120 were reported by Ruggie Group. Ibm Retirement Fund stated it has 0.08% of its portfolio in Microchip Technology Incorporated (NASDAQ:MCHP). Citizens And Northern holds 0.55% in Microchip Technology Incorporated (NASDAQ:MCHP) or 8,989 shares. Paloma Prtnrs Mgmt reported 6,230 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) earned “Buy” rating by Jefferies on Thursday, August 3. The company was maintained on Tuesday, June 6 by B. Riley & Co. The rating was maintained by Mizuho on Tuesday, June 6 with “Hold”. The rating was upgraded by Bank of America to “Buy” on Tuesday, November 8. The firm has “Equal-Weight” rating given on Wednesday, November 1 by Morgan Stanley. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, November 7. The rating was maintained by Needham on Friday, August 4 with “Buy”. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Buy” rating given on Tuesday, June 6 by Needham. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Hold” rating given on Wednesday, September 6 by KeyBanc Capital Markets. The firm has “Buy” rating by Jefferies given on Monday, September 11.

The stock increased 1.25% or $1.08 during the last trading session, reaching $87.39. About 1.23M 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 earnings per share, up 27.00 % or $0.27 from last year’s $1 per share. MCHP’s profit will be $297.06M for 17.20 P/E if the $1.27 EPS becomes a reality. After $1.37 actual earnings per share 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: Globenewswire.com which released: “Create Cloud-Connected Embedded Systems with Microchip Technology and Amazon …” on November 29, 2017, also Nasdaq.com published article titled: “Here’s Why You Should Make Position in Microchip (MCHP) Now”, Seekingalpha.com published: “Microchip Technology’s (MCHP) CEO Stephen Sanghi on Q2 2018 Results – Earnings …” on November 07, 2017. More interesting news about Microchip Technology Incorporated (NASDAQ:MCHP) was released by: Nasdaq.com and their article: “Microchip Technology Inc. Reveals 57% Advance In Q2 Earnings” with publication date: November 06, 2017.

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