Raymond James analyst Chris Caso reiterated a Buy rating on Microchip (MCHP) yesterday and set a price target of $140.00. The company’s shares closed last Thursday at $118.38, close to its 52-week high of $118.63.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 14.8% and a 58.1% success rate. Caso covers the Technology sector, focusing on stocks such as SiTime Corporation, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $134.40, implying a 16.6% upside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $140.00 price target.
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The company has a one-year high of $118.63 and a one-year low of $53.15. Currently, Microchip has an average volume of 2.01M.
Based on the recent corporate insider activity of 78 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. Most recently, in August 2020, Day L B, a Director at MCHP bought 1,191 shares for a total of $119,410.
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.
