Today Jefferies Reiterates a “Buy” Rating on Microchip (NASDAQ:MCHP) and a $94.0 Target Price

September 17, 2017 - By Marie Mckinney

 Today Jefferies Reiterates a

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.02, from 0.93 in 2016Q3. It worsened, 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.

Sigma Planning holds 0.03% or 3,638 shares in its portfolio. Chem Financial Bank reported 0.51% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Torch Wealth Mgmt Ltd Llc accumulated 1.15% or 25,450 shares. Employees Retirement Association Of Colorado stated it has 900,924 shares or 0.46% of all its holdings. The New York-based Ibm Retirement Fund has invested 0.06% in Microchip Technology Inc. (NASDAQ:MCHP). State Treasurer State Of Michigan invested in 70,672 shares. Northwest Invest Counselors Ltd Limited Liability Company invested in 0.86% or 26,470 shares. Capstone Asset Management owns 28,597 shares or 0.05% of their US portfolio. First American Fincl Bank reported 53,093 shares. 70 were reported by Tarbox Grp. Bnp Paribas Investment Ptnrs has invested 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). Financial Bank Of America De has 1.16 million shares for 0.02% of their portfolio. Crossvault Mngmt Ltd Liability owns 18,711 shares. Park National Corporation Oh stated it has 3,171 shares. Massmutual Tru Fsb Adv accumulated 97,709 shares or 0% of the stock.

Since May 22, 2017, it had 0 insider buys, and 4 sales for $990,698 activity. $226,739 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by SIMONCIC RICHARD J. The insider LITTLE MITCHELL R sold 3,031 shares worth $243,359. Another trade for 2,510 shares valued at $201,528 was made by Bjornholt James Eric on Monday, May 22.

Microchip (NASDAQ:MCHP) Rating Reaffirmed

In a research report sent to clients and investors this morning, Jefferies reaffirmed their “Buy” rating on Microchip (NASDAQ:MCHP) shares. The TP suggests a possible upside of 4.89 % from firm’s current stock price.

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.02, from 0.93 in 2016Q3. It worsened, 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.

Sigma Planning holds 0.03% or 3,638 shares in its portfolio. Chem Financial Bank reported 0.51% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP). Torch Wealth Mgmt Ltd Llc accumulated 1.15% or 25,450 shares. Employees Retirement Association Of Colorado stated it has 900,924 shares or 0.46% of all its holdings. The New York-based Ibm Retirement Fund has invested 0.06% in Microchip Technology Inc. (NASDAQ:MCHP). State Treasurer State Of Michigan invested in 70,672 shares. Northwest Invest Counselors Ltd Limited Liability Company invested in 0.86% or 26,470 shares. Capstone Asset Management owns 28,597 shares or 0.05% of their US portfolio. First American Fincl Bank reported 53,093 shares. 70 were reported by Tarbox Grp. Bnp Paribas Investment Ptnrs has invested 0.01% in Microchip Technology Inc. (NASDAQ:MCHP). Financial Bank Of America De has 1.16 million shares for 0.02% of their portfolio. Crossvault Mngmt Ltd Liability owns 18,711 shares. Park National Corporation Oh stated it has 3,171 shares. Massmutual Tru Fsb Adv accumulated 97,709 shares or 0% of the stock.

Since May 22, 2017, it had 0 insider buys, and 4 sales for $990,698 activity. $226,739 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by SIMONCIC RICHARD J. The insider LITTLE MITCHELL R sold 3,031 shares worth $243,359. Another trade for 2,510 shares valued at $201,528 was made by Bjornholt James Eric on Monday, May 22.

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. As per Saturday, August 8, the company rating was maintained by Jefferies. The company was upgraded on Tuesday, January 19 by Morgan Stanley. The firm has “Buy” rating given on Monday, June 12 by Needham. Stifel Nicolaus maintained it with “Buy” rating and $70 target in Wednesday, November 30 report. The stock of Microchip Technology Inc. (NASDAQ:MCHP) has “Buy” rating given on Tuesday, August 9 by Citigroup. Rosenblatt maintained Microchip Technology Inc. (NASDAQ:MCHP) rating on Tuesday, June 6. Rosenblatt has “Buy” rating and $10200 target. As per Monday, November 9, the company rating was initiated by Bank of America. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by B. Riley & Co on Thursday, November 5. The firm has “Buy” rating by Jefferies given on Monday, July 10. The company was maintained on Tuesday, June 6 by Mizuho.

The stock increased 0.43% or $0.38 on September 15, reaching $89.62. About 4.08 million 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.

Investors wait Microchip Technology Inc. (NASDAQ:MCHP) to report on November, 6. its quarterly earnings Wall Street analysts expect $1.27 earnings per share, up $0.37 or 41.11 % from last year’s $0.9 same quarter earnings. This translates into $295.61 million profit for MCHP giving the stock a 17.64 P/E. This is assuming the current $1.27 EPS is accurate. Microchip Technology Inc.’s Wall Street analysts see 1.60 % EPS growth, taking into account the $1.25 EPS reproted in the previous quarter,

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: Globenewswire.com which released: “Microchip Technology Reaffirms Financial Guidance for Second Quarter Fiscal 2018” on September 05, 2017, also Zacks.com with their article: “Microchip Upgraded to Strong Buy on Reaffirmed Q2 Guidance” published on September 06, 2017, Bizjournals.com published: “Microchip hosting engineering job fair, hiring 85 for Chandler headquarters” on September 05, 2017. More interesting news about Microchip Technology Inc. (NASDAQ:MCHP) were released by: Nasdaq.com and their article: “January 2020 Options Now Available For Microchip Technology (MCHP)” published on September 11, 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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