Rosenblatt Securities analyst Hans Mosesmann reiterated a Buy rating on Microchip (MCHP – Research Report) today and set a price target of $120.00. The company’s shares closed last Wednesday at $79.52.
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 11.8% and a 54.3% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Monolithic Power, and Lattice Semicon.
Currently, the analyst consensus on Microchip is a Strong Buy with an average price target of $108.07, a 43.4% upside from current levels. In a report issued on March 31, KeyBanc also maintained a Buy rating on the stock with a $85.00 price target.
Microchip’s market cap is currently $19.46B and has a P/E ratio of 29.10. The company has a Price to Book ratio of -2.57.
Based on the recent corporate insider activity of 72 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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Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.