In a report released today, Christopher Danely from Citigroup maintained a Buy rating on Microchip (MCHP), with a price target of $114.00. The company’s shares closed last Friday at $68.20.
According to TipRanks.com, Danely is a 3-star analyst with an average return of 1.4% and a 52.3% success rate. Danely covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Maxim Integrated, and Broadcom.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $113.24 average price target, implying a 66.0% upside from current levels. In a report issued on March 16, SunTrust Robinson also maintained a Buy rating on the stock with a $90.00 price target.
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Microchip’s market cap is currently $16.34B and has a P/E ratio of 27.10. The company has a Price to Book ratio of -2.34.
Based on the recent corporate insider activity of 72 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.
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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