In a report released yesterday, Ambrish Srivastava from BMO Capital maintained a Buy rating on Microchip (MCHP), with a price target of $92. The company’s shares closed yesterday at $75.61.
According to TipRanks.com, Srivastava is a 5-star analyst with an average return of 10.2% and a 70.9% success rate. Srivastava covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.
Currently, the analyst consensus on Microchip is a Moderate Buy with an average price target of $98.10, implying a 29.7% upside from current levels. In a report issued on November 8, Needham also maintained a Buy rating on the stock with a $100 price target.
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Microchip’s market cap is currently $17.8B and has a P/E ratio of 2520.33. The company has a Price to Book ratio of 3.45.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MCHP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.
