Susquehanna Sticks to Their Buy Rating for Microchip (MCHP)


Susquehanna analyst Christopher Rolland reiterated a Buy rating on Microchip (MCHP) today and set a price target of $130.00. The company’s shares closed last Monday at $101.71.

According to TipRanks.com, Rolland is a 5-star analyst with an average return of 12.3% and a 65.9% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Power Integrations, Skyworks Solutions, and Texas Instruments.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $121.77 average price target, which is a 20.9% upside from current levels. In a report released today, B.Riley FBR also reiterated a Buy rating on the stock with a $135.00 price target.

See today’s analyst top recommended stocks >>

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.

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