Susquehanna Thinks Microchip’s Stock is Going to Recover

Susquehanna analyst Christopher Rolland reiterated a Buy rating on Microchip (MCHPResearch Report) on March 7 and set a price target of $100.00. The company’s shares closed last Tuesday at $68.53, close to its 52-week low of $64.26.

According to, Rolland is a top 25 analyst with an average return of 25.9% and a 74.3% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and NXP Semiconductors.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Microchip with a $95.08 average price target, which is a 45.5% upside from current levels. In a report issued on March 2, Jefferies also maintained a Buy rating on the stock with a $109.00 price target.

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Based on Microchip’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.76 billion and net profit of $353 million. In comparison, last year the company earned revenue of $1.35 billion and had a net profit of $36.2 million.

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.

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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.

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