After Rosenblatt Securities and Mizuho Securities gave Microchip (NASDAQ: MCHP) a Buy rating last month, the company received another Buy, this time from Susquehanna. Analyst Christopher Rolland reiterated a Buy rating on Microchip today and set a price target of $190.00. The company’s shares closed last Thursday at $146.51.
According to TipRanks.com, Rolland is a top 100 analyst with an average return of 21.9% and a 73.3% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Raytheon Technologies, and NXP Semiconductors.
Microchip has an analyst consensus of Strong Buy, with a price target consensus of $180.40, a 24.1% upside from current levels. In a report issued on May 3, Rosenblatt Securities also maintained a Buy rating on the stock with a $165.00 price target.
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The company has a one-year high of $166.67 and a one-year low of $81.09. Currently, Microchip has an average volume of 2.01M.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
Founded in 1989, Arizona-based Microchip Technology, Inc. is a leading provider of smart, connected and secure embedded control solutions. The company’s solutions serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets.
