Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on Microchip (NASDAQ:MCHP) and Synaptics Inc (NASDAQ:SYNA).
Microchip (MCHP)
Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating on Microchip on August 10 and set a price target of $125. The company’s shares closed on Friday at $87.41.
Mosesmann wrote:
“We rate MCHP as a Buy with a $125 price target and would be opportunistic on potential near-term price pressure.”
According to TipRanks.com, Mosesmann is a 4-star analyst with an average return of 11.7% and a 57.3% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Broadcom, and Micron.
Microchip has an analyst consensus of Strong Buy, with a price target consensus of $116.06, representing a 32.8% upside. In a report issued on July 27, Piper Jaffray also maintained a Buy rating on the stock with a $150 price target.
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Synaptics Inc (SYNA)
In a report issued on August 10, Jun Zhang from Rosenblatt Securities reiterated a Hold rating on Synaptics Inc, with a price target of $55. The company’s shares closed on Friday at $42.69.
Zhang commented:
“We believe gross margins will improve with the increasing adoption of chip on film technology. The CoF technology is used in panel driver ICs, which support the full screen smartphone, including the new iPhone LCD model.”
According to TipRanks.com, Zhang is a 3-star analyst with an average return of 3.5% and a 62.0% success rate. Zhang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and NeoPhotonics.
Synaptics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $56.14, implying a 31.5% upside from current levels. In a report issued on August 10, BMO Capital also maintained a Hold rating on the stock.
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