As Microchip Technology (MCHP) Valuation Rose, Morgan Dempsey Capital Management Lowered Its Stake; Pioneer Investment Management Increases Stake in Micron Technology (MU)

October 6, 2017 - By Richard Conner

Morgan Dempsey Capital Management Llc decreased its stake in Microchip Technology Incorporated (MCHP) by 99.55% based on its latest 2017Q2 regulatory filing with the SEC. Morgan Dempsey Capital Management Llc sold 58,001 shares as the company’s stock rose 11.86% with the market. The hedge fund held 265 shares of the semiconductors company at the end of 2017Q2, valued at $20,000, down from 58,266 at the end of the previous reported quarter. Morgan Dempsey Capital Management Llc who had been investing in Microchip Technology Incorporated for a number of months, seems to be less bullish one the $21.12B market cap company. The stock declined 0.59% or $0.54 reaching $90.76 per share. About 687,170 shares traded. Microchip Technology Inc. (NASDAQ:MCHP) has risen 68.30% since October 6, 2016 and is uptrending. It has outperformed by 51.60% the S&P500.

Pioneer Investment Management Inc increased its stake in Micron Technology Inc (MU) by 298.45% based on its latest 2017Q2 regulatory filing with the SEC. Pioneer Investment Management Inc bought 1.94M shares as the company’s stock rose 19.14% with the market. The institutional investor held 2.59M shares of the technology company at the end of 2017Q2, valued at $77.35 million, up from 650,097 at the end of the previous reported quarter. Pioneer Investment Management Inc who had been investing in Micron Technology Inc for a number of months, seems to be bullish on the $43.84B market cap company. The stock declined 0.05% or $0.02 reaching $39.35 on the news. About 9.86 million shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 176.27% since October 6, 2016 and is uptrending. It has outperformed by 159.57% the S&P500.

Since May 22, 2017, it had 0 insider purchases, and 4 insider sales for $990,698 activity. $226,739 worth of Microchip Technology Inc. (NASDAQ:MCHP) was sold by SIMONCIC RICHARD J. Shares for $201,528 were sold by Bjornholt James Eric on Monday, May 22. Shares for $319,072 were sold by DREHOBL STEPHEN V on Monday, May 22.

Morgan Dempsey Capital Management Llc, which manages about $340.50M and $274.77M US Long portfolio, upped its stake in Six Flags Operations Inc. (NYSE:SIX) by 5,895 shares to 118,528 shares, valued at $7.07 million in 2017Q2, according to the filing. It also increased its holding in Granite Construction Incorporated (NYSE:GVA) by 20,364 shares in the quarter, for a total of 134,140 shares, and has risen its stake in The Gorman (NYSEMKT:GRC).

Among 18 analysts covering Microchip Technology (NASDAQ:MCHP), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. Microchip Technology had 46 analyst reports since August 5, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, August 9 by Jefferies. The stock of Microchip Technology Inc. (NASDAQ:MCHP) has “Neutral” rating given on Wednesday, February 8 by Mizuho. As per Tuesday, May 17, the company rating was initiated by CLSA. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Jefferies on Thursday, August 3. On Tuesday, November 8 the stock rating was upgraded by Bank of America to “Buy”. As per Wednesday, November 30, the company rating was maintained by Stifel Nicolaus. The stock of Microchip Technology Inc. (NASDAQ:MCHP) earned “Buy” rating by Drexel Hamilton on Monday, August 24. The firm has “Buy” rating by Summit Redstone Partners given on Tuesday, April 4. B. Riley & Co upgraded Microchip Technology Inc. (NASDAQ:MCHP) on Thursday, November 5 to “Buy” rating. Jefferies maintained the stock with “Buy” rating in Monday, July 10 report.

More notable recent Microchip Technology Inc. (NASDAQ:MCHP) news were published by: Globenewswire.com which released: “Enable CAN Flexible Data Rate (CAN FD) in New and Existing Designs using …” on September 20, 2017, also Benzinga.com with their article: “Microchip Technology Is Serving Fastest Growing Market In One Of The Hottest …” published on October 06, 2017, Globenewswire.com published: “Increase Software Power Measurement Accuracy to 99 Percent in Windows 10 …” on September 19, 2017. More interesting news about Microchip Technology Inc. (NASDAQ:MCHP) were released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For October 6, 2017” published on October 06, 2017 as well as Globenewswire.com‘s news article titled: “Microchip Expands Computing Capabilities with Two Embedded Controller Families …” with publication date: September 27, 2017.

Analysts await Microchip Technology Inc. (NASDAQ:MCHP) to report earnings on November, 6. They expect $1.27 EPS, up 41.11% or $0.37 from last year’s $0.9 per share. MCHP’s profit will be $295.53M for 17.87 P/E if the $1.27 EPS becomes a reality. After $1.25 actual EPS reported by Microchip Technology Inc. for the previous quarter, Wall Street now forecasts 1.60% EPS growth.

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.11, from 1.11 in 2017Q1. It fall, as 38 investors sold MCHP shares while 242 reduced holdings. 71 funds opened positions while 210 raised stakes. 235.26 million shares or 2.61% more from 229.26 million shares in 2017Q1 were reported. 57,466 were reported by Aberdeen Asset Mngmt Public Limited Co Uk. Webster National Bank N A reported 904 shares stake. Wespac Advsr Ltd Limited Liability Company reported 0.47% in Microchip Technology Inc. (NASDAQ:MCHP). Bryn Mawr invested in 65,756 shares. Livforsakringsbolaget Skandia Omsesidigt stated it has 0.03% in Microchip Technology Inc. (NASDAQ:MCHP). State Of Tennessee Treasury Department holds 0.05% in Microchip Technology Inc. (NASDAQ:MCHP) or 137,531 shares. Gemmer Asset Management Limited holds 0.01% or 170 shares. Iberiabank holds 43,432 shares or 1% of its portfolio. First Bank & Trust Of Omaha holds 1.05% in Microchip Technology Inc. (NASDAQ:MCHP) or 237,225 shares. Brown Advisory stated it has 0.06% in Microchip Technology Inc. (NASDAQ:MCHP). New York-based Metropolitan Life Insur Commerce Ny has invested 0.06% in Microchip Technology Inc. (NASDAQ:MCHP). Bp Public Ltd Co has 0.07% invested in Microchip Technology Inc. (NASDAQ:MCHP). State Bank Of Montreal Can, a Ontario – Canada-based fund reported 371,920 shares. The California-based Franklin Resources has invested 0.08% in Microchip Technology Inc. (NASDAQ:MCHP). Roosevelt Investment Gru reported 1.84% stake.

Among 42 analysts covering Micron Technology Inc. (NASDAQ:MU), 35 have Buy rating, 1 Sell and 6 Hold. Therefore 83% are positive. Micron Technology Inc. had 174 analyst reports since July 29, 2015 according to SRatingsIntel. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, September 29 report. Cowen & Co maintained the stock with “Outperform” rating in Wednesday, December 23 report. The rating was maintained by Loop Capital Markets on Friday, June 30 with “Buy”. The firm earned “Market Perform” rating on Thursday, March 31 by Bernstein. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Thursday, February 9 by Bank of America. The rating was upgraded by Nomura on Thursday, June 23 to “Buy”. Deutsche Bank maintained the shares of MU in report on Friday, October 2 with “Buy” rating. The stock has “Outperform” rating by Credit Suisse on Wednesday, October 5. Cowen & Co maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, June 26 with “Buy” rating. The rating was upgraded by Wells Fargo on Monday, August 17 to “Market Perform”.

Pioneer Investment Management Inc, which manages about $65.36 billion and $30.48 billion US Long portfolio, decreased its stake in Zoetis Inc (NYSE:ZTS) by 94,315 shares to 1.42M shares, valued at $88.37 million in 2017Q2, according to the filing. It also reduced its holding in Interpublic Group Of Compa (NYSE:IPG) by 247,804 shares in the quarter, leaving it with 1.79M shares, and cut its stake in Discover Financial Service (NYSE:DFS).

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Globenewswire.com which released: “Micron Technology, Inc., Reports Results for The Fourth Quarter and Full Year …” on September 26, 2017, also Fool.com with their article: “Better Buy: Micron Technology, Inc. vs. Samsung Electronics” published on September 06, 2017, Seekingalpha.com published: “Micron’s Q4 Results Indicate More Upside” on September 28, 2017. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Seekingalpha.com and their article: “Micron: The Endorsement Of An Icon” published on October 02, 2017 as well as Seekingalpha.com‘s news article titled: “Micron: What Else Is There To Say?” with publication date: September 29, 2017.

Investors sentiment increased to 1.08 in Q2 2017. Its up 0.03, from 1.05 in 2017Q1. It improved, as 63 investors sold MU shares while 217 reduced holdings. 85 funds opened positions while 218 raised stakes. 832.79 million shares or 1.90% less from 848.93 million shares in 2017Q1 were reported. Insight Capital Rech And Mngmt holds 85,697 shares or 1.5% of its portfolio. Fmr Ltd Liability Com owns 25.92 million shares for 0.1% of their portfolio. Quantum invested in 302,128 shares or 2.22% of the stock. Hermes Management Ltd holds 0.63% or 1.29 million shares. Nippon Life Insurance has invested 0.03% in Micron Technology, Inc. (NASDAQ:MU). Point72 Asia (Hong Kong) reported 121,100 shares. Td Asset Mngmt Inc invested 0.02% in Micron Technology, Inc. (NASDAQ:MU). Birinyi Associate Inc reported 9,750 shares. Bnp Paribas Arbitrage reported 0.31% stake. Fukoku Mutual Life Ins Company reported 0.07% stake. 60,490 are held by Nuveen Asset Mgmt Llc. Lmr Llp stated it has 25,877 shares or 0.05% of all its holdings. Advantus Cap Mngmt Inc holds 0.08% or 104,818 shares. At National Bank reported 0.54% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Utd Ser Automobile Association has 824,518 shares.

Since May 15, 2017, it had 0 insider purchases, and 5 insider sales for $2.52 million activity. 50,581 shares were sold by Shirley Brian, worth $1.46 million. Another trade for 1,000 shares valued at $30,750 was made by ARNZEN APRIL S on Thursday, June 1. $320,000 worth of stock was sold by Deboer Scott J on Wednesday, June 7.

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