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Analysts Offer Insights on Technology Companies: Analog Devices (ADI), Microchip (MCHP) and Alarm (ALRM)

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Analog Devices (ADIResearch Report), Microchip (MCHPResearch Report) and Alarm (ALRMResearch Report) with bullish sentiments.

Analog Devices (ADI)

Needham analyst Quinn Bolton maintained a Buy rating on Analog Devices on July 5 and set a price target of $170.00. The company’s shares closed last Wednesday at $144.70, close to its 52-week low of $138.50.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 40.2% and a 63.9% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Credo Technology Group Holding Ltd, and Rockley Photonics Holdings.

Analog Devices has an analyst consensus of Strong Buy, with a price target consensus of $198.50, representing a 38.2% upside. In a report issued on June 29, Bank of America Securities also maintained a Buy rating on the stock with a $190.00 price target.

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Microchip (MCHP)

Needham analyst Rajvindra Gill maintained a Buy rating on Microchip on July 5 and set a price target of $75.00. The company’s shares closed last Wednesday at $56.15, close to its 52-week low of $54.33.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 9.0% and a 55.5% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Microchip has an analyst consensus of Strong Buy, with a price target consensus of $84.65, representing a 50.5% upside. In a report issued on June 28, Stifel Nicolaus also upgraded the stock to Buy with a $75.00 price target.

Alarm (ALRM)

Roth Capital analyst Darren Aftahi reiterated a Buy rating on Alarm yesterday and set a price target of $75.00. The company’s shares closed last Wednesday at $63.17.

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 14.4% and a 35.1% success rate. Aftahi covers the Technology sector, focusing on stocks such as Argo Blockchain, Fathom Holdings, and Digital Turbine.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alarm with a $76.17 average price target.

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