After Mizuho Securities and Susquehanna gave Microchip (NASDAQ: MCHP) a Buy rating last month, the company received another Buy, this time from Rosenblatt Securities. Analyst Hans Mosesmann maintained a Buy rating on Microchip today and set a price target of $120.00. The company’s shares closed last Monday at $95.22.
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 13.8% and a 56.9% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Monolithic Power, and Lattice Semicon.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $122.13, which is a 33.3% upside from current levels. In a report released yesterday, B.Riley FBR also maintained a Buy rating on the stock with a $135.00 price target.
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The company has a one-year high of $112.47 and a one-year low of $77.66. Currently, Microchip has an average volume of 2.68M.
Based on the recent corporate insider activity of 73 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.
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Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.
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