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In a report released yesterday, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Microchip (MCHP), with a price target of $112.00. The company’s shares closed last Monday at $101.71.
According to TipRanks.com, Rakesh is a 5-star analyst with an average return of 18.1% and a 61.4% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $116.67, representing a 15.8% upside. In a report issued on February 3, B.Riley FBR also maintained a Buy rating on the stock with a $130.00 price target.
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Microchip’s market cap is currently $24.31B and has a P/E ratio of 66.63. The company has a Price to Book ratio of 4.53.
Based on the recent corporate insider activity of 74 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.
