Yesterday, the President & COO of Microchip (MCHP), Ganesh Moorthy, bought shares of MCHP for $1.4M.
Following this transaction Ganesh Moorthy’s holding in the company was increased by 5.69% to a total of $28.04 million. In addition to Ganesh Moorthy, 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.
Ganesh Moorthy’s trades have generated a 1.8% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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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