Analysts Conflicted on These Technology Names: Microchip (MCHP), Arista Networks (ANET) and Kla-Tencor (KLAC)


Analysts have been eager to weigh in on the Technology sector with new ratings on Microchip (MCHP), Arista Networks (ANET) and Kla-Tencor (KLAC).

Microchip (MCHP)

Needham analyst Rajvindra Gill assigned a Buy rating to Microchip today and set a price target of $130.00. The company’s shares closed last Tuesday at $107.32, close to its 52-week high of $113.28.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 7.7% and a 57.8% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $119.95, a 15.1% upside from current levels. In a report issued on August 3, Credit Suisse also maintained a Buy rating on the stock with a $130.00 price target.

See today’s analyst top recommended stocks >>

Arista Networks (ANET)

Barclays analyst Tim Long maintained a Hold rating on Arista Networks yesterday and set a price target of $231.00. The company’s shares closed last Tuesday at $263.99, close to its 52-week high of $267.30.

According to TipRanks.com, Long is a 5-star analyst with an average return of 16.3% and a 65.3% success rate. Long covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Keysight Technologies, and Motorola Solutions.

The word on The Street in general, suggests a Hold analyst consensus rating for Arista Networks with a $220.36 average price target, implying a -15.0% downside from current levels. In a report issued on July 24, Wolfe Research also initiated coverage with a Hold rating on the stock with a $245.00 price target.

Kla-Tencor (KLAC)

In a report released yesterday, Blayne Curtis from Barclays maintained a Hold rating on Kla-Tencor, with a price target of $220.00. The company’s shares closed last Tuesday at $204.90, close to its 52-week high of $209.30.

According to TipRanks.com, Curtis is a 5-star analyst with an average return of 17.1% and a 65.8% success rate. Curtis covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Micro Devices, and Silicon Laboratories.

Currently, the analyst consensus on Kla-Tencor is a Moderate Buy with an average price target of $210.43, a 5.1% upside from current levels. In a report released yesterday, Needham also assigned a Hold rating to the stock.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts