A statement released earlier today by Mizuho Securities about Microchip (NASDAQ:MCHP) bumps the target price to $67.00
- Updated: September 30, 2016
Showing a price of $61.97, Microchip (NASDAQ:MCHP) traded 0.27% higher on the day. With the last closing price up 16.17% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. Microchip has recorded a 50-day average of $61.01 and a 200-day moving average of $53.49. 2,632,626 shares of the stock traded hands, up from an average trading volume of 2,192,240
Stating a potential upside of 0.08%, Mizuho Securities increased the stock price target of Microchip (NASDAQ:MCHP) to $67.00
Previously on 8/9/2016, Needham reported about Microchip (NASDAQ:MCHP) bumped up the target price from $60.00 to $70.00 that suggested an upside of 0.24%.
Recent Performance Chart
Microchip has 52 week low of $39.01 and a 52 week high of $63.11 with a PE ratio of 167.49 and has a market capitalization of $0.
In addition to Mizuho Securities reporting its target price, a total of 12 firms have reported on the stock. The consensus target price is $55.13 with 3 firms rating the stock a strong buy, 4 analysts rating the company a buy, four analysts rating the company a hold, one analyst rating the company a underperform, and lastly zero analysts rating the company a sell.
More About Microchip (NASDAQ:MCHP)
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products. Its functional activities include sales, marketing, manufacturing, information technology, human resources, legal and finance. Its product portfolio comprises general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers, a spectrum of linear, mixed-signal, power management, thermal management, radio frequency (RF), timing, safety, security, wired connectivity and wireless connectivity devices, as well as serial electrically erasable programmable read-only memories (EEPROMs) and serial flash memories.
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