Microchip Technology Incorporated (MCHP) : Analyst Rating Update

Microchip Technology Incorporated (MCHP) : Zacks Investment Research ranks Microchip Technology Incorporated (MCHP) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 1.88, which indicates as a Buy.

Microchip Technology Incorporated (MCHP) : Currently there are 9 street experts covering Microchip Technology Incorporated (MCHP) stock. The most bullish and bearish price target for the stock is $63 and $40 respectively for the short term. The average price target of all the analysts comes to $54.28. The estimated standard deviation from the target is $7.22.

Microchip Technology Incorporated (NASDAQ:MCHP): The stock opened at $49.60 on Wednesday but the bulls could not build on the opening and the stock topped out at $49.72 for the day. The stock traded down to $48.97 during the day, due to lack of any buying support eventually closed down at $49.49 with a loss of -0.70% for the day. The stock had closed at $49.84 on the previous day. The total traded volume was 2,513,594 shares.

Also, CLSA initiates coverage on Microchip Technology Incorporated (NASDAQ:MCHP) The current rating of the shares is Buy. Equity Analysts at the Firm announces the price target to $58 per share. The rating by the firm was issued on May 17, 2016. The company shares have rallied 11.52% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $50.71 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $50.86 and the 200 Day Moving Average price is recorded at $47.27.

Microchip Technology Incorporated develops, manufactures and sells specialized semiconductor products for a range of embedded control applications. The Company operates in segments, including semiconductor products and technology licensing. The Companys product portfolio consists of general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; linear, mixed-signal, power management; thermal management; Radio-frequency (RF), safety, security, wired connectivity and wireless connectivity devices, as well as serial EEPROMs, Serial Flash memories, Parallel Flash memories and serial Static Random Access Memory (SRAM). The Company also licenses Flash-IP solutions that are incorporated in a range of products. The Companys products are applicable in the automotive, communications, computing, consumer and industrial control markets.

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