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Yesterday, the CEO & Chairman of Microchip (MCHP), Steve Sanghi, bought shares of MCHP for $3.11M.
In addition to Steve Sanghi, 3 other MCHP executives reported Buy trades in the last month.
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The company has a one-year high of $112.47 and a one-year low of $53.15. MCHP’s market cap is $21.78 billion and the company has a P/E ratio of 37.60.
12 different firms, including B.Riley FBR and Mizuho Securities, currently also have a Buy rating on the stock. Based on 16 analyst ratings, the analyst consensus is Strong Buy with an average price target of $102.56, reflecting a -13.7% downside. One of the top 25 analysts, according to TipRanks.com, recently recommended Hold MCHP with a $85.00 price target.
The insider sentiment on Microchip has been positive according to 63 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
Company insider trades are published daily on the SEC (Securities and Exchange Commission). DailyInsider’s proprietary algorithm analyzes these trades and selects the most attractive stocks based on influential insider trades each day. To subscribe to the DailyInsider visit this page.
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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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