HBK Sorce Advisory LLC Takes Position in Microchip Technology Inc. (MCHP)

Lloyd Doyle
March 18, 2018

The institutional investor held 537,769 shares of the technology company at the end of 2017Q3, valued at $2.53M, up from 384,277 at the end of the previous reported quarter. Selz Capital Llc who had been investing in Costco Wholesale Corp for a number of months, seems to be bullish on the $81.58 billion market cap company. They expect $1.27 EPS, up 15.45 % or $0.17 from last year's $1.1 per share. About 1.90M shares traded or 53.43% up from the average. Regency Centers Corporation (NYSE:REG) has declined 19.56% since March 17, 2017 and is downtrending. It has underperformed by 8.88% the S&P500.

Junto Capital Management Lp decreased Carmax Inc (KMX) stake by 20.54% reported in 2017Q3 SEC filing. The Junto Capital Management Lp holds 171,854 shares with $13.03 million value, down from 216,272 last quarter. Davidson Investment Advisors who had been investing in Microchip Technology Inc for a number of months, seems to be less bullish one the $22.80B market cap company. The stock decreased 0.80% or $0.78 during the last trading session, reaching $97.25. About 2.67M shares traded.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, February 6th. It has outperformed by 51.60% the S&P500.

Investors sentiment increased to 1.4 in 2017 Q3. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.35 by $0.01. It worsened, as 25 investors sold MCHP shares while 231 reduced holdings. Zions Bancorporation raised its stake in shares of Microchip Technology by 215.5% in the 3rd quarter. Fincl Bank Of The Ozarks reported 4,295 shares. During the same period previous year, the firm posted $1.05 EPS.

Among 24 analysts covering Microchip Technology (NASDAQ:MCHP), 23 have Buy rating, 0 Sell and 1 Hold.

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications.


Microchip Technology (NASDAQ:MCHP) opened at $98.18 on Friday. Bessemer Group Inc Incorporated holds 0% in Microchip Technology Incorporated (NASDAQ:MCHP) or 149 shares. Cadence Cap Mngmt Ltd Co accumulated 22,825 shares. Rafferty Asset Management Limited Liability holds 122,912 shares. Zweig, Alabama-based fund reported 5,100 shares. Hightower Advisors Limited Liability Corp stated it has 0.03% in Microchip Technology Incorporated (NASDAQ:MCHP). Zions Bancorporation boosted its holdings in shares of Microchip Technology by 215.5% in the 3rd quarter. James Inv Rech stated it has 19,800 shares or 0.06% of all its holdings. First Manhattan Communication invested in 169 shares.

Since February 22, 2018, it had 0 insider purchases, and 8 sales for $4.82 million activity. 2,109 shares valued at $177,536 were sold by Bjornholt James Eric on Thursday, February 22. CHAPMAN MATTHEW W had sold 6,000 shares worth $564,492. SIMONCIC RICHARD J sold $324,093 worth of stock or 3,850 shares. ABC's profit will be $397.60M for 13.34 P/E if the $1.81 EPS becomes a reality.

Davidson Investment Advisors, which manages about $1.17B and $925.69M US Long portfolio, upped its stake in Gilead Sciences Inc (NASDAQ:GILD) by 72,016 shares to 326,333 shares, valued at $26.44 million in 2017Q3, according to the filing. Zacks Investment Research upgraded Microchip Technology from a "hold" rating to a "buy" rating and set a $102.00 price target on the stock in a research report on Friday, November 10th. Therefore 88% are positive. During the same quarter in the prior year, the business earned $1.05 EPS. analysts forecast that Microchip Technology Inc. will post 5.13 earnings per share for the current year. On Thursday, August 31 the stock rating was maintained by UBS with "Buy". The rating was maintained by Jefferies on Monday, September 11 with "Buy". The firm earned "Buy" rating on Thursday, June 8 by Roth Capital. Needham maintained it with "Buy" rating and $75 target in Tuesday, November 8 report. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has "Buy" rating given on Tuesday, August 9 by Citigroup. The company was maintained on Sunday, August 27 by Piper Jaffray. On Friday, September 30 the stock rating was initiated by Mizuho with "Neutral". The company was downgraded on Friday, February 5 by Lake Street.

Chilton Capital Management Llc, which manages about $1.18 billion and $1.04B US Long portfolio, decreased its stake in Celgene Corp (NASDAQ:CELG) by 2,232 shares to 77,227 shares, valued at $11.26M in 2017Q3, according to the filing. It also increased its holding in Vanguard Bd Index Fd Inc (BSV) by 96,305 shares in the quarter, for a total of 153,593 shares, and has risen its stake in Transdigm Group Inc (NYSE:TDG). 6,000 shares were sold by DAY L B, worth $567,720 on Wednesday, March 7. (NASDAQ:MCHP) in the 4th quarter, according to the company in its most recent filing with the SEC.

In related news, CEO Steve Sanghi sold 20,124 shares of the stock in a transaction on Tuesday, March 6th. 7,136 Regency Centers Corporation (NYSE:REG) shares with value of $416,457 were sold by SCHWEITZER JOHN C. Chemung Canal Co holds 0.07% or 1,791 shares. It improved, as 23 investors sold REG shares while 107 reduced holdings. 48 funds opened positions while 82 raised stakes. Natixis invested 0.01% in Regency Centers Corporation (NYSE:REG). Bp Public Limited Com owns 25,000 shares. Advisor Prns Ltd Liability Co invested in 5,402 shares or 0.1% of the stock. The Ontario - Canada-based Brookfield Asset has invested 0% in Regency Centers Corporation (NYSE:REG). California Employees Retirement holds 0.06% or 476,718 shares in its portfolio. Moreover, D E Shaw & has 0.03% invested in Huntsman Corporation (NYSE:HUN). Retirement Of Alabama owns 112,908 shares or 0.05% of their USA portfolio. Glenmede Trust Com Na invested in 0% or 68 shares. King Luther Capital Mgmt invested in 0% or 2,723 shares. Manufacturers Life The has 163,288 shares. Lord Abbett & Lc holds 0.33% or 1.25M shares.

Among 8 analysts covering New Residential Investment Corp (NYSE:NRZ), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 69% are positive. Morgan Stanley increased their target price on shares of Microchip Technology from $97.00 to $99.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 13th. As per Monday, August 24, the company rating was downgraded by Drexel Hamilton. The firm has "Buy" rating given on Monday, August 7 by Leerink Swann. The rating was maintained by BMO Capital Markets on Wednesday, June 28 with "Hold". As per Thursday, October 19, the company rating was maintained by Jefferies. The firm earned "Sell" rating on Tuesday, April 5 by Goldman Sachs. The stock of Microchip Technology Incorporated (NASDAQ:MCHP) has "Outperform" rating given on Tuesday, November 7 by Credit Suisse. The stock of Agnico Eagle Mines Limited (NYSE:AEM) earned "Hold" rating by RBC Capital Markets on Tuesday, July 18. The stock has "Hold" rating by SunTrust on Wednesday, February 7. The firm has "Buy" rating by Roth Capital given on Wednesday, August 9.

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