Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Microchip (MCHP) yesterday and set a price target of $95. The company’s shares opened today at $87.39.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.9% and a 61.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.
Currently, the analyst consensus on Microchip is a Moderate Buy with an average price target of $97.56, which is an 11.6% upside from current levels. In a report released today, B.Riley FBR also maintained a Buy rating on the stock with a $100 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $104.20 and a one-year low of $60.70. Currently, Microchip has an average volume of 2.88M.
Based on the recent corporate insider activity of 73 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.
