New Buy Rating for Microchip (MCHP), the Technology Giant

In a report released yesterday, Hans Mosesmann from Rosenblatt Securities reiterated a Buy rating on Microchip (MCHPResearch Report), with a price target of $125.00. The company’s shares closed last Tuesday at $69.27.

According to, Mosesmann is a top 25 analyst with an average return of 31.3% and a 68.6% success rate. Mosesmann covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and Texas Instruments.

Microchip has an analyst consensus of Moderate Buy, with a price target consensus of $82.94.

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Microchip’s market cap is currently $38.21B and has a P/E ratio of 30.44.

Based on the recent corporate insider activity of 93 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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