Microchip Technology Inc. Just Recorded A Sigfniciant Bullish Options Activity

 Microchip Technology Inc. Just Recorded A Sigfniciant Bullish Options Activity

In today’s session Microchip Technology Inc. (MCHP) registered an unusually high (504) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious MCHP increase. With 504 contracts traded and 12124 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: MCHP161021C00060000 closed last at: $0.4 or 33.3% down. About 748,445 shares traded hands. Microchip Technology Inc. (NASDAQ:MCHP) has risen 22.66% since March 14, 2016 and is uptrending. It has outperformed by 17.05% the S&P500.

Analysts await Microchip Technology Inc. (NASDAQ:MCHP) to report earnings on November, 2. They expect $0.74 earnings per share, up 25.42% or $0.15 from last year’s $0.59 per share. MCHP’s profit will be $160.90 million for 19.89 P/E if the $0.74 EPS becomes a reality. After $0.67 actual earnings per share reported by Microchip Technology Inc. for the previous quarter, Wall Street now forecasts 10.45% EPS growth.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Out of 12 analysts covering Microchip Technology (NASDAQ:MCHP), 9 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 75% are positive. Microchip Technology has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Needham on Monday, January 18. The firm has “Buy” rating given on Saturday, August 8 by Jefferies. Mizuho initiated Microchip Technology Inc. (NASDAQ:MCHP) on Friday, September 30 with “Neutral” rating. B. Riley & Co upgraded the shares of MCHP in a report on Thursday, November 5 to “Buy” rating. Jefferies maintained the stock with “Buy” rating in Tuesday, August 9 report. The stock of Microchip Technology Inc. (NASDAQ:MCHP) has “Buy” rating given on Tuesday, August 9 by Citigroup. The company was upgraded on Friday, January 15 by Needham. As per Wednesday, August 5, the company rating was maintained by Jefferies. CLSA initiated Microchip Technology Inc. (NASDAQ:MCHP) rating on Tuesday, May 17. CLSA has “Buy” rating and $58 price target. On Tuesday, April 5 the stock rating was maintained by Goldman Sachs with “Sell”.

According to Zacks Investment Research, “Microchip Technology, Inc. develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications. Its product portfolio comprises microcontrollers; application-specific standard products; and related mixed-signal and memory products. The company markets its products to the consumer, automotive, office automation, communications and industrial markets.”

Insitutional Activity: The institutional sentiment increased to 1.57 in Q2 2016. Its up 0.41, from 1.16 in 2016Q1. The ratio is positive, as 30 funds sold all Microchip Technology Inc. shares owned while 163 reduced positions. 67 funds bought stakes while 236 increased positions. They now own 214.90 million shares or 2.05% more from 210.57 million shares in 2016Q1.
Canandaigua Savings Bank And Trust has 11,355 shares for 0.16% of their US portfolio. Windsor Limited Liability Co holds 0.3% or 10,181 shares in its portfolio. Waldron Limited Partnership last reported 0.11% of its portfolio in the stock. The California-based Concert Wealth Mngmt has invested 0.03% in Microchip Technology Inc. (NASDAQ:MCHP). First In last reported 0.03% of its portfolio in the stock. Jnba Advsrs accumulated 85 shares or 0% of the stock. United Automobile Association last reported 0.22% of its portfolio in the stock. Shaker Ltd Liability Corporation Oh reported 29,720 shares or 1.37% of all its holdings. Engineers Gate Manager Limited Partnership last reported 0.03% of its portfolio in the stock. Td Asset Mngmt accumulated 711,477 shares or 0.07% of the stock. Virginia Retirement System Et Al holds 0.14% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 193,000 shares. Royal Comml Bank Of Canada last reported 3.87M shares in the company. Ngam Advisors L P has 141,081 shares for 0.1% of their US portfolio. Sandy Spring Commercial Bank holds 0.58% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 99,099 shares. Moreover, South Dakota Invest Council has 0.02% invested in Microchip Technology Inc. (NASDAQ:MCHP) for 16,900 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 insider buys, and 17 insider sales for $20.17 million net activity. $3.74M worth of Microchip Technology Inc. (NASDAQ:MCHP) was sold by SANGHI STEVE on Friday, May 20. Shares for $130,494 were sold by SIMONCIC RICHARD J on Monday, May 23. Another trade for 3,916 shares valued at $190,748 was sold by DREHOBL STEPHEN V. $90,751 worth of shares were sold by MEYERCORD WADE F on Friday, August 12. MOORTHY GANESH sold $516,905 worth of stock. $105,408 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares were sold by Bjornholt James Eric. $479,200 worth of Microchip Technology Inc. (NASDAQ:MCHP) was sold by CHAPMAN MATTHEW W on Friday, May 20.

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 a market cap of $12.80 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 155.1 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.

MCHP Company Profile

Microchip Technology Incorporated, incorporated on February 14, 1989, is engaged in developing, manufacturing and selling specialized semiconductor products used by its clients for a range of embedded control applications. The Firm operates through two divisions: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, makes and markets microcontrollers, development tools and analog, interface, mixed signal and timing products. The Company’s functional activities include sales, marketing, manufacturing, information technology, human resources, legal and finance.

More important recent Microchip Technology Inc. (NASDAQ:MCHP) news were published by: Forbes.com which released: “Citrix Systems Becomes #10 Most Shorted Nasdaq 100 Component, Replacing …” on October 13, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Microchip Technology, Ryder System and Moody’s”, Prnewswire.com published: “Microchip Technology Updates Guidance For Non-GAAP Net Sales And EPS For …” on September 06, 2016. More interesting news about Microchip Technology Inc. (NASDAQ:MCHP) was released by: 247Wallst.com and their article: “Analysts Chasing Microchip Tech Price Targets Significantly Higher” with publication date: August 09, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment