Microchip Technology Incorporated (MCHP) Receives ‘Analyst’ Rating

Microchip Technology Incorporated (MCHP) : 4 brokerage houses believe that Microchip Technology Incorporated (MCHP) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Microchip Technology Incorporated (MCHP). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 9 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Microchip Technology Incorporated (MCHP) : 9 Wall Street analysts covering Microchip Technology Incorporated (MCHP) believe that the average level the stock could reach for the short term is $63.44. The maximum price target given is $74 and the minimum target for short term is around $47, hence the standard deviation is calculated at $8.66.


Also, Citigroup maintains its view on Microchip Technology Incorporated (NASDAQ:MCHP) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Citigroup raises the price target from $54 per share to $64 per share on Microchip Technology Incorporated. The rating by the firm was issued on August 9, 2016.

Microchip Technology Incorporated (NASDAQ:MCHP): After opening at $59.48, the stock dipped to an intraday low of $59.331 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $60.89 and the buying power remained strong till the end. The stock closed at $60.44 for the day, a gain of 1.73% for the day session. The total traded volume was 2,934,701. The stocks close on the previous trading day was $59.41.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.