In a report released today, John Pitzer from Credit Suisse maintained a Buy rating on Microchip (MCHP), with a price target of $130.00. The company’s shares closed last Monday at $104.03, close to its 52-week high of $113.28.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 21.0% and a 72.4% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Keysight Technologies, and NXP Semiconductors.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $119.05, implying a 16.1% upside from current levels. In a report issued on July 27, Needham also assigned a Buy rating to the stock with a $140.00 price target.
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Microchip’s market cap is currently $25.68B and has a P/E ratio of 45.80. The company has a Price to Book ratio of -3.79.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.
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