What’s Ahead for Microchip Technology Inc. After Today’s Bearish Options Activity?

 What's Ahead for Microchip Technology Inc. After Today's Bearish Options Activity?

In today’s session Microchip Technology Inc. (MCHP) recorded an unusually high (813) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious MCHP decrease. With 813 contracts traded and 4794 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: MCHP161118P00057500 closed last at: $0.55 or 47.6% down. About 641,750 shares traded hands. Microchip Technology Inc. (NASDAQ:MCHP) has risen 33.58% since April 7, 2016 and is uptrending. It has outperformed by 28.80% the S&P500.

Microchip Technology Inc. (NASDAQ:MCHP) Ratings Coverage

Out of 12 analysts covering Microchip Technology (NASDAQ:MCHP), 10 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 83% are positive. $75 is the highest target while $43 is the lowest. The $60 average target is -4.81% below today’s ($63.03) stock price. Microchip Technology has been the topic of 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Needham on Friday, January 15. Jefferies maintained the stock with “Buy” rating in Tuesday, August 9 report. Morgan Stanley upgraded Microchip Technology Inc. (NASDAQ:MCHP) on Tuesday, January 19 to “Overweight” rating. The company was upgraded on Tuesday, November 8 by Bank of America. The firm has “Buy” rating given on Monday, January 18 by Needham. The firm earned “Buy” rating on Tuesday, August 9 by Citigroup. The rating was upgraded by B. Riley & Co to “Buy” on Thursday, November 5. The firm has “Buy” rating by Needham given on Tuesday, November 8. The rating was maintained by Jefferies with “Buy” on Saturday, August 8. On Tuesday, September 8 the stock rating was upgraded by JP Morgan to “Overweight”.

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 increased, 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.
Loomis Sayles And Lp holds 0.08% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 595,729 shares. Mutual Of America Mngmt Lc has 29,934 shares for 0.03% of their US portfolio. Us Financial Bank De has 0.07% invested in the company for 367,387 shares. Miller Howard Invests Ny holds 1.31% or 1.44 million shares in its portfolio. Veritable Limited Partnership holds 0.01% of its portfolio in Microchip Technology Inc. (NASDAQ:MCHP) for 4,141 shares. Cornerstone Management Limited last reported 0.02% of its portfolio in the stock. Aqr Cap Mgmt Limited Liability Company last reported 0% of its portfolio in the stock. Ahl Prtnrs Ltd Liability Partnership owns 19,873 shares or 0.05% of their US portfolio. Strs Ohio last reported 12,429 shares in the company. The Virginia-based Alexandria Ltd Limited Liability Company has invested 0% in Microchip Technology Inc. (NASDAQ:MCHP). State Of Tennessee Treasury Department has 47,418 shares for 0.01% of their US portfolio. Fjarde Ap, a Alabama-based fund reported 51,111 shares. The New Jersey-based Lord Abbett And Lc has invested 0.45% in Microchip Technology Inc. (NASDAQ:MCHP). Mycio Wealth Prtn Lc last reported 0% of its portfolio in the stock. Deutsche Financial Bank Ag reported 1.02M shares or 0.04% of all its holdings.

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 17 sales for $20.17 million net activity. LITTLE MITCHELL R sold 3,039 shares worth $185,227. 76,647 shares with value of $3.74M were sold by SANGHI STEVE on Friday, May 20. MOORTHY GANESH also sold $516,905 worth of Microchip Technology Inc. (NASDAQ:MCHP) shares. Another trade for 20,000 shares valued at $1.21 million was made by SIMONCIC RICHARD J on Wednesday, August 10. 4,454 shares were sold by DREHOBL STEPHEN V, worth $271,471 on Monday, August 22. On Friday, August 12 the insider MEYERCORD WADE F sold $90,751. $149,998 worth of shares were sold by Bjornholt James Eric on Monday, August 22.

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 $13.95 billion. The Firm operates through two divisions: semiconductor products and technology licensing. It has a 270.9 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.

Another recent and important Microchip Technology Inc. (NASDAQ:MCHP) news was published by Prnewswire.com which published an article titled: “Microchip Launches New Generation of 8-bit AVR® MCUs with Core Independent …” on November 08, 2016.

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