.gif "Microchip (NASDAQ: MCHP)")
In a report released today, Harlan Sur from J.P. Morgan maintained a Buy rating on Microchip (NASDAQ: MCHP), with a price target of $113. The company’s shares closed yesterday at $98.08.
According to TipRanks.com, Sur is a 5-star analyst with an average return of 17.4% and a 63.8% success rate. Sur covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Applied Materials, and Texas Instruments.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $117.13, representing a 19.4% upside. In a report issued on July 27, Piper Jaffray also maintained a Buy rating on the stock with a $150 price target.
.
See today’s analyst top recommended stocks >>
Microchip’s market cap is currently $23.05B and has a P/E ratio of 100.08. The company has a Price to Book ratio of 7.03.
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.
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.
