Microchip Technology (NASDAQ:MCHP – Get Rating)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $110.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 32.12% from the stock’s previous close.
Several other research analysts have also recently commented on MCHP. Piper Sandler boosted their target price on Microchip Technology from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. The Goldman Sachs Group boosted their target price on Microchip Technology from $76.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Susquehanna boosted their target price on Microchip Technology from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Friday, February 3rd. Raymond James upped their price objective on Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 3rd. Finally, KeyCorp upped their price objective on Microchip Technology from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.58.
Microchip Technology Trading Down 1.5 %
MCHP opened at $83.26 on Wednesday. Microchip Technology has a 12 month low of $54.33 and a 12 month high of $87.76. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 0.85 and a beta of 1.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.04. The business has a fifty day moving average price of $78.86 and a 200 day moving average price of $71.61.
Institutional Trading of Microchip Technology
About Microchip Technology
Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.
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