Microchip Technology (NASDAQ:MCHP).
Agf Investments Inc. says it sold 36,843 shares during the last quarter decreasing its stake in Microchip Technology (MCHP) by 4.8%. Its stake was worth $65,705,000 an increase of 10.7% according to the filing.
Several firms have updated their holdings. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS added to its stake by buying 1,884 shares an increase of 11.1% from 06/30/2017 to 09/30/2017. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS currently owns 18,927 shares worth $1,699,000. The value of the position overall is up by 29.2%. Tredje Ap-fonden expanded its investment by buying 29,050 shares an increase of 263.6%. Tredje Ap-fonden now holds 40,070 shares with a value of $3,597,000. The total value of its holdings increased 322.7%.
As of quarter end Baird Financial Group, Inc. had bought a total of 26,241 shares growing its holdings by 3.9%. The value of the company’s investment in Microchip Technology increased from $52,193,000 to $63,070,000 a change of 20.8% quarter over quarter.
On November 7 B. Riley left the company rating at “Buy” targeting a price of $123.00. Needham & Company LLC raised the price target on November 7 boosting the projection from $120.00 to $130.00 with a “Strong-Buy” recommendation.
Equity analyst Stifel Nicolaus raised the price target of the stock on November 7 changing the forecast from $94.00 to $100.00 and issued a “Buy” recommendation. November 7 investment analysts at J P Morgan Chase & Co held the company rating at “Overweight” with a current price target of $120.00.
Jefferies Group LLC raised the price target on November 7 changing the price objective from $106.00 to $110.00 with a rating of “Buy”. November 7 investment analysts at Credit Suisse Group held the stock rating at “Outperform” projecting a price of $110.00.
The company is down by 1.03% since yesterday’s close of 91.01. The P/E ratio is 35.98 and the market cap of the company is 20.96B. In the latest earnings report the EPS was $2.50 with 233.85M shares outstanding.
Investors are more bearish on Microchip Technology of late as implied by the rise in short interest. The stock saw a rise in short interest of 3.94% as of October 13, 2017 from the last reporting period. Short interest increased from 28,380,695 to 29,498,321 over that timeframe. Days to cover increased 6.0 to 20.0 and the percentage of shorted shares is 0.13% as of October 13.