.gif "Microchip (NASDAQ: MCHP)")
In a report released today, Craig Hettenbach from Morgan Stanley maintained a Hold rating on Microchip (NASDAQ: MCHP), with a price target of $95. The company’s shares closed yesterday at $77.65, close to its 52-week low of $77.14.
According to TipRanks.com, Hettenbach is a 5-star analyst with an average return of 22.0% and a 73.3% success rate. Hettenbach covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Maxim Integrated, and Cypress Semicon.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $114.87, representing a 47.9% upside. In a report issued on September 25, KeyBanc also initiated coverage with a Hold rating on the stock.
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The company has a one-year high of $104.20 and a one-year low of $77.14. Currently, Microchip has an average volume of 3.09M.
Based on the recent corporate insider activity of 77 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. Most recently, in August 2018, Matthew Chapman, a Director at MCHP bought 4,697 shares for a total of $410,565.
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.
