Raymond James analyst Chris Caso maintained a Buy rating on Microchip (NASDAQ: MCHP) on August 10. The company’s shares opened today at $87.68.
According to TipRanks.com, Caso is a 4-star analyst with an average return of 8.1% and a 59.3% success rate. Caso covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Maxim Integrated, and Monolithic Power.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $116.80, a 33.2% 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 2.24M.
Based on the recent corporate insider activity of 86 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. Earlier this month, Esther Johnson, a Director at MCHP bought 2,387 shares for a total of $208,648.
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.
