Microchip (MCHP) Gets a Buy Rating from Nomura

In a report released today, Krysten Sciacca from Nomura maintained a Buy rating on Microchip (NASDAQ: MCHP), with a price target of $105. The company’s shares closed yesterday at $98.08.

Sciacca has an average return of 3.4% when recommending Microchip.

According to TipRanks.com, Sciacca is ranked #3948 out of 4850 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $116.80 average price target, a 19.1% upside from current levels. 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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The company has a one-year high of $104.20 and a one-year low of $78.33. Currently, Microchip has an average volume of 1.97M.

Based on the recent corporate insider activity of 81 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.

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Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.