In a report released today, John Pitzer from Credit Suisse maintained a Buy rating on Microchip (MCHP), with a price target of $130.00. The company’s shares closed last Friday at $88.30.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 20.2% and a 68.9% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Brooks Automation.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $103.07, representing a 21.5% upside. In a report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $92.00 price target.
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The company has a one-year high of $112.48 and a one-year low of $53.16. Currently, Microchip has an average volume of 4.18M.
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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