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Mizuho Securities Keeps a Hold Rating on Microchip (MCHP)

Mizuho Securities analyst Vijay Rakesh maintained a Hold rating on Microchip (MCHPResearch Report) yesterday and set a price target of $87.00. The company’s shares closed last Wednesday at $70.15.

According to TipRanks.com, Rakesh is a top 25 analyst with an average return of 29.4% and a 70.4% success rate. Rakesh covers the Technology sector, focusing on stocks such as Credo Technology Group Holding Ltd, Advanced Micro Devices, and Allegro MicroSystems.

Microchip has an analyst consensus of Moderate Buy, with a price target consensus of $95.08.

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Microchip’s market cap is currently $37.75B and has a P/E ratio of 39.88.

Based on the recent corporate insider activity of 90 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.

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.

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