Institutional Investors Are Betting On Microchip Technology Inc (NASDAQ:MCHP)

October 11, 2018 - By Clifton Ray

Microchip Technology Incorporated (NASDAQ:MCHP) Logo

Sentiment for Microchip Technology Inc (NASDAQ:MCHP)

Microchip Technology Inc (NASDAQ:MCHP) institutional sentiment increased to 1.1 in Q2 2018. Its up 0.29, from 0.81 in 2018Q1. The ratio is more positive, as 295 institutional investors started new or increased holdings, while 268 sold and reduced stakes in Microchip Technology Inc. The institutional investors in our partner’s database now possess: 244.93 million shares, down from 248.38 million shares in 2018Q1. Also, the number of institutional investors holding Microchip Technology Inc in their top 10 holdings decreased from 11 to 10 for a decrease of 1. Sold All: 32 Reduced: 236 Increased: 228 New Position: 67.

Microchip Technology Incorporated develops, makes, and sells semiconductor products for various embedded control applications. The company has market cap of $16.06 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 141.38 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.

The stock increased 2.62% or $1.74 during the last trading session, reaching $68.18. About 1.30M shares traded. Microchip Technology Incorporated (NASDAQ:MCHP) has declined 5.63% since October 11, 2017 and is downtrending. It has underperformed by 21.25% the S&P500.

Analysts await Microchip Technology Incorporated (NASDAQ:MCHP) to report earnings on November, 5. They expect $1.65 earnings per share, up 20.44 % or $0.28 from last year’s $1.37 per share. MCHP’s profit will be $388.66M for 10.33 P/E if the $1.65 EPS becomes a reality. After $1.52 actual earnings per share reported by Microchip Technology Incorporated for the previous quarter, Wall Street now forecasts 8.55 % EPS growth.

Glaxis Capital Management Llc holds 8.55% of its portfolio in Microchip Technology Incorporated for 21,745 shares. Westchester Capital Management Inc. owns 102,297 shares or 3.96% of their US portfolio. Moreover, Doheny Asset Management Ca has 3.6% invested in the company for 73,060 shares. The Pennsylvania-based Coho Partners Ltd. has invested 3.46% in the stock. Muhlenkamp & Co Inc, a Pennsylvania-based fund reported 98,968 shares.

Since January 1, 0001, it had 0 insider buys, and 8 insider sales for $2.43 million activity.

Microchip Technology Incorporated (NASDAQ:MCHP) Ratings Coverage

Ratings analysis reveals 60% of Microchip Technology’s analysts are positive. Out of 10 Wall Street analysts rating Microchip Technology, 6 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $75 while the high is $150. The stock’s average target of $111.60 is 63.68% above today’s ($68.18) share price. MCHP was included in 16 notes of analysts from May 9, 2018. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) earned “Equal-Weight” rating by Morgan Stanley on Wednesday, October 10. Nomura maintained Microchip Technology Incorporated (NASDAQ:MCHP) on Friday, August 10 with “Buy” rating. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has “Market Perform” rating given on Tuesday, September 25 by Raymond James. The firm has “Buy” rating by SunTrust given on Wednesday, May 30. The stock has “Buy” rating by Mizuho on Friday, June 1. The stock has “Equal-Weight” rating by Morgan Stanley on Wednesday, October 3. The company was maintained on Friday, August 10 by JP Morgan. The company was downgraded on Monday, September 17 by Bank of America. The stock has “Overweight” rating by JP Morgan on Tuesday, June 5. The firm has “Overweight” rating given on Friday, August 10 by KeyBanc Capital Markets.

More recent Microchip Technology Incorporated (NASDAQ:MCHP) news were published by: Seekingalpha.com which released: “Raymond James: “Too early to call a bottom” on chips” on October 08, 2018. Also Fool.com published the news titled: “Better Buy: Texas Instruments vs. Microchip Technology” on October 04, 2018. Nasdaq.com‘s news article titled: “Create Secure Connected Applications in a Single Click with Microchip’s AVR® MCU Development Board for Google …” with publication date: October 10, 2018 was also an interesting one.

Microchip Technology Incorporated (NASDAQ:MCHP) Institutional Positions Chart

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