There’s a lot to be optimistic about in the Consumer Goods sector as 3 analysts just weighed in on Avid Technology (AVID), Microchip (MCHP) and Xperi Corporation (XPER) with bullish sentiments.
Avid Technology (AVID)
In a report released yesterday, Nehal Chokshi from Maxim Group reiterated a Buy rating on Avid Technology, with a price target of $14. The company’s shares closed yesterday at $6.13.
Chokshi noted:
“Software accelerates to 20% y/y growth giving us confidence ACV slowdown is temporary. CY19 guidance parameters maintained, non-GAAP EPS guidance introduced, in-line with our estimates. Software results fortify our due diligence-led confidence in utilizing a DCF framework; reiterating Buy rating and 12-month price target of $14.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 4.2% and a 48.9% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Avid Technology has an analyst consensus of Moderate Buy, with a price target consensus of $11.25.
See today’s analyst top recommended stocks >>
Microchip (MCHP)
Susquehanna analyst Christopher Rolland reiterated a Buy rating on Microchip today and set a price target of $105. The company’s shares closed yesterday at $85.06.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 10.3% and a 61.2% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Power Integrations, and Intel Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $110.83 average price target, implying a 30.3% upside from current levels. In a report issued on July 29, Wells Fargo also maintained a Buy rating on the stock with a $115 price target.
Xperi Corporation (XPER)
National Securities Corp analyst Matthew Galinko maintained a Buy rating on Xperi Corporation today and set a price target of $33. The company’s shares closed yesterday at $19.36.
According to TipRanks.com, Galinko is a 3-star analyst with an average return of 2.7% and a 54.2% success rate. Galinko covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Shotspotter Inc, and InterDigital.
Currently, the analyst consensus on Xperi Corporation is a Strong Buy with an average price target of $32, implying a 65.3% upside from current levels. In a report released today, B.Riley FBR also reiterated a Buy rating on the stock with a $30 price target.
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.
