Morgan Stanley analyst Craig Hettenbach maintained a Hold rating on Microchip (MCHP) today and set a price target of $81.00. The company’s shares closed last Monday at $62.50, close to its 52-week low of $54.86.
According to TipRanks.com, Hettenbach is a 5-star analyst with an average return of 14.3% and a 58.0% success rate. Hettenbach covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Maxim Integrated, and TE Connectivity.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $117.06 average price target.
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Based on Microchip’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $311 million. In comparison, last year the company had a net profit of $49.2 million.
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.
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