Susquehanna Remains a Buy on Microchip (MCHP)


In a report issued on May 20, Christopher Rolland from Susquehanna maintained a Buy rating on Microchip (MCHP), with a price target of $108. The company’s shares closed yesterday at $81.95.

According to TipRanks.com, Rolland is a 5-star analyst with an average return of 9.5% and a 60.6% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Power Integrations, Skyworks Solutions, and Texas Instruments.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $112.83 average price target, implying a 37.7% upside from current levels. In a report issued on May 6, Rosenblatt Securities also maintained a Buy rating on the stock with a $115 price target.

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Based on Microchip’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $175 million. In comparison, last year the company had a net profit of $147 million.

Based on the recent corporate insider activity of 67 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.

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