After Credit Suisse and Piper Sandler gave Microchip (NASDAQ: MCHP) a Buy rating last month, the company received another Buy, this time from Susquehanna. Analyst Christopher Rolland maintained a Buy rating on Microchip today and set a price target of $120.00. The company’s shares closed last Tuesday at $96.84.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 12.7% and a 64.9% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Power Integrations.
Microchip has an analyst consensus of Strong Buy, with a price target consensus of $110.29, a 14.6% upside from current levels. In a report issued on May 27, Merrill Lynch also maintained a Buy rating on the stock with a $115.00 price target.
See today’s analyst top recommended stocks >>
Microchip’s market cap is currently $23.76B and has a P/E ratio of 43.10. The company has a Price to Book ratio of -3.46.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral on 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.
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.
Read More on MCHP:
