There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Microchip (MCHP), Synaptics (SYNA) and Snap (SNAP) with bullish sentiments.
Microchip (MCHP)
KeyBanc analyst Weston Twigg maintained a Buy rating on Microchip today and set a price target of $175.00. The company’s shares closed last Friday at $146.16, close to its 52-week high of $155.36.
According to TipRanks.com, Twigg is a top 100 analyst with an average return of 31.9% and a 79.6% success rate. Twigg covers the Technology sector, focusing on stocks such as NXP Semiconductors, Skyworks Solutions, and MKS Instruments.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $167.71, implying a 16.7% upside from current levels. In a report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $158.00 price target.
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Synaptics (SYNA)
Needham analyst Rajvindra Gill assigned a Buy rating to Synaptics today and set a price target of $150.00. The company’s shares closed last Friday at $119.00.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 13.6% and a 65.1% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.
Synaptics has an analyst consensus of Strong Buy, with a price target consensus of $126.25, which is a 18.1% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $120.00 price target.
Snap (SNAP)
In a report released today, Justin Patterson from KeyBanc maintained a Buy rating on Snap, with a price target of $63.00. The company’s shares closed last Friday at $56.76, close to its 52-week high of $60.52.
According to TipRanks.com, Patterson is a 5-star analyst with an average return of 27.4% and a 67.8% success rate. Patterson covers the Technology sector, focusing on stocks such as ANGI Homeservices, Alphabet Class A, and IAC/InterActive.
Currently, the analyst consensus on Snap is a Moderate Buy with an average price target of $60.07, which is a 3.0% upside from current levels. In a report issued on January 25, Canaccord Genuity also maintained a Buy rating on the stock with a $58.00 price target.
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