Argus Research Initiates Coverage on Microchip (NASDAQ:MCHP). What May be Next?

Lester Mason
December 8, 2017

Cookson Peirce & Co Inc who had been investing in Microchip Technology Inc for a number of months, seems to be bullish on the $20.19B market cap company. The stock increased 0.57% or $0.49 during the last trading session, reaching $86.7.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, May 9th. It has outperformed by 51.60% the S&P500. Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, September 8th. Columbus Circle Investors now owns 193,897 shares of the semiconductor company's stock valued at $17,408,000 after purchasing an additional 11,932 shares in the last quarter. Crawford Inv Counsel, Georgia-based fund reported 10,557 shares. Comerica Inc now has $14.58 billion valuation. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company's stock worth $484,434,000 after buying an additional 2,507,707 shares during the last quarter. About 896,631 shares traded. (NYSE:NYCB) has declined 13.57% since December 6, 2016 and is downtrending.

Several research analysts have weighed in on MCHP shares. The business's revenue for the quarter was up 16.2% compared to the same quarter previous year. MCHP's profit will be $297.06M for 17.20 P/E if the $1.27 EPS becomes a reality. Catalyst Capital Advisors LLC lifted its holdings in Microchip Technology by 17.2% during the third quarter. About 347,552 shares traded. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company.

Analysts await Whirlpool Corporation (NYSE:WHR) to report earnings on January, 25. The rating was initiated by Bank of America with "Neutral" on Monday, November 9. As per Wednesday, August 16, the company rating was maintained by Jefferies. The VC1 of Microchip Technology Incorporated (NasdaqGS:MCHP) is 58. The rating was maintained by Stifel Nicolaus with "Buy" on Tuesday, November 7. The rating was maintained by Goldman Sachs on Tuesday, April 5 with "Sell". Its up 0.39, from 0.96 in 2017Q1. Kames Cap Plc invested in 14,693 shares. 65 funds opened positions while 161 raised stakes. 19,109 were reported by Willingdon Wealth Mgmt. The Volatility 3m is a similar percentage determined by the daily log normal returns and standard deviation of the share price over 3 months. It also upped Wynn Resorts Ltd (NASDAQ:WYNN) stake by 2,993 shares and now owns 38,430 shares. Quantitative Systematic Strategies Limited Company stated it has 5,776 shares or 0.11% of all its holdings. Da Davidson And invested in 0% or 375 shares. The fund owned 18,400 shares of the semiconductor company's stock after selling 7,484 shares during the period. Gsa Cap Llp stated it has 0.06% of its portfolio in Comerica Incorporated (NYSE:CMA). Whittier Trust Of Nevada holds 9,179 shares. Federated Investors Pa stated it has 0.02% in Comerica Incorporated (NYSE:CMA). Kentucky Retirement System has invested 0.06% in Comerica Incorporated (NYSE:CMA). Css Llc Il holds 1,600 shares.


Investors sentiment decreased to 1 in Q2 2017. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.14. It worsened, as 38 investors sold MCHP shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. Godsey Gibb reported 160,127 shares or 2.17% of all its holdings. First Merchants Corp stated it has 40,090 shares. Edinburgh Partners Ltd owns 186,899 shares or 9.99% of their United States portfolio. Quantitative Systematic Strategies Ltd invested in 0.16% or 8,105 shares. Corporate insiders own 2.13% of the company's stock. Westfield Mngmt Lp invested in 0.04% or 56,595 shares. If the published price targets set by Microchip Technology Incorporated analysts have any power to influence the stock's share price, the highest price target set for MCHP is $130. Alley Communication Limited Liability Corp has 11,636 shares for 0.34% of their portfolio. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,383 shares of the semiconductor company's stock valued at $794,000 after buying an additional 87 shares during the period. Ing Groep Nv holds 0.01% or 4,220 shares in its portfolio. The Price Index 12m for Microchip Technology Incorporated (NasdaqGS:MCHP) is 1.44434. American Int Group invested 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Moreover, Miles Capital Incorporated has 0.22% invested in Microchip Technology Incorporated (NASDAQ:MCHP) for 5,322 shares. Therefore 77% are positive. The stock has "Buy" rating by B. Riley & Co on Tuesday, November 7. Gabelli downgraded the stock to "Hold" rating in Monday, September 12 report. The firm earned "Neutral" rating on Friday, September 30 by Mizuho. Tcw Grp Inc Inc has 0.1% invested in Microchip Technology Incorporated (NASDAQ:MCHP). The firm has "Equal-Weight" rating given on Wednesday, November 1 by Morgan Stanley. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. Needham upgraded Microchip Technology Incorporated (NASDAQ:MCHP) rating on Friday, January 15. Summit Redstone Partners has "Buy" rating and $82 target.

Credit Agricole S A increased Liberty Global Plc (NASDAQ:LBTYK) stake by 24,999 shares to 102,491 valued at $3.20 million in 2017Q2. It also reduced Graco Inc.

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