Should Microchip (NASDAQ:MCHP) Shares Be Watched After Argus Research Initiates Coverage?

December 7, 2017 - By Vivian Currie

 Should Microchip (NASDAQ:MCHP) Shares Be Watched After Argus Research Initiates Coverage?

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.

Loomis Sayles And Co L P accumulated 278,149 shares or 0.05% of the stock. Shaker Invs Ltd Liability Corporation Oh holds 1.66% or 28,576 shares. Winslow Evans & Crocker owns 2,720 shares or 0% of their US portfolio. Illinois-based Peak6 Investments Lp has invested 0.01% in Microchip Technology Incorporated (NASDAQ:MCHP). American Gp holds 105,489 shares or 0.03% of its portfolio. Mufg Americas Holdings Corporation stated it has 0.16% in Microchip Technology Incorporated (NASDAQ:MCHP). Korea Investment Corporation stated it has 0.23% in Microchip Technology Incorporated (NASDAQ:MCHP). Commerzbank Aktiengesellschaft Fi owns 14,020 shares. Catawba Capital Va owns 8,285 shares or 0.15% of their US portfolio. Kentucky Retirement Sys Insurance Tru Fund holds 0.09% in Microchip Technology Incorporated (NASDAQ:MCHP) or 6,283 shares. 146,711 are held by Capstone Asset. California State Teachers Retirement System owns 388,562 shares. Crawford Inv Counsel has invested 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Woodmont Invest Counsel owns 0.24% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 11,005 shares. Umb National Bank N A Mo accumulated 2,961 shares or 0.01% of the stock.

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

In analysts report sent to investors today, Argus Research analysts has started Microchip (NASDAQ:MCHP) coverage with Buy rating, and a $106.0 PT.

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.

Loomis Sayles And Co L P accumulated 278,149 shares or 0.05% of the stock. Shaker Invs Ltd Liability Corporation Oh holds 1.66% or 28,576 shares. Winslow Evans & Crocker owns 2,720 shares or 0% of their US portfolio. Illinois-based Peak6 Investments Lp has invested 0.01% in Microchip Technology Incorporated (NASDAQ:MCHP). American Gp holds 105,489 shares or 0.03% of its portfolio. Mufg Americas Holdings Corporation stated it has 0.16% in Microchip Technology Incorporated (NASDAQ:MCHP). Korea Investment Corporation stated it has 0.23% in Microchip Technology Incorporated (NASDAQ:MCHP). Commerzbank Aktiengesellschaft Fi owns 14,020 shares. Catawba Capital Va owns 8,285 shares or 0.15% of their US portfolio. Kentucky Retirement Sys Insurance Tru Fund holds 0.09% in Microchip Technology Incorporated (NASDAQ:MCHP) or 6,283 shares. 146,711 are held by Capstone Asset. California State Teachers Retirement System owns 388,562 shares. Crawford Inv Counsel has invested 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Woodmont Invest Counsel owns 0.24% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 11,005 shares. Umb National Bank N A Mo accumulated 2,961 shares or 0.01% of the stock.

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. As per Tuesday, November 8, the company rating was upgraded by Bank of America. Stifel Nicolaus maintained the shares of MCHP in report on Thursday, August 3 with “Buy” rating. The rating was maintained by Needham on Monday, June 12 with “Buy”. Needham upgraded it to “Buy” rating and $60.0 target in Friday, January 15 report. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Hold” rating given on Wednesday, September 6 by KeyBanc Capital Markets. The firm earned “Neutral” rating on Friday, September 30 by Mizuho. Jefferies maintained the stock with “Buy” rating in Saturday, August 8 report. The firm has “Buy” rating by Summit Redstone Partners given on Tuesday, April 4. On Monday, July 10 the stock rating was maintained by Jefferies with “Buy”. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Buy” rating given on Tuesday, June 6 by Susquehanna.

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 EPS, 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 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: “Microchip Technology Inc. Reveals 57% Advance In Q2 Earnings”, Globenewswire.com published: “Create Cloud-Connected Embedded Systems with Microchip Technology and Amazon …” on November 29, 2017. More interesting news about Microchip Technology Incorporated (NASDAQ:MCHP) was released by: Nasdaq.com and their article: “Here’s Why You Should Make Position in Microchip (MCHP) Now” with publication date: November 29, 2017.

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