In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Microchip (MCHP – Research Report), with a price target of $110.00. The company’s shares closed yesterday at $84.53.
Gill covers the Technology sector, focusing on stocks such as Mobileye Global, Inc. Class A, Micron, and Microchip. According to TipRanks, Gill has an average return of 11.2% and a 62.93% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Microchip with a $90.69 average price target, a 7.29% upside from current levels. In a report released today, Morgan Stanley also maintained a Buy rating on the stock with a $99.00 price target.
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The company has a one-year high of $84.95 and a one-year low of $53.86. Currently, Microchip has an average volume of 4.74M.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is neutral on the stock.
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Founded in 1989, Arizona-based Microchip Technology, Inc. is a leading provider of smart, connected and secure embedded control solutions. The company’s solutions serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets.
Read More on MCHP:
- Microchip Technology Announces Record Financial Results For Third Quarter of Fiscal Year 2023
- Microchip Technology Increases Quarterly Cash Dividend 41.5% Year-Over-Year to 35.8 Cents Per Share
- Microchip put volume heavy and directionally bearish
- Microchip announces hybrid power drive module
- New All-in-One Hybrid Power Drive Module Solution from Microchip is Designed for Electric Aviation Applications to Reduce Development Time and Weight