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Needham disclosed (:MCHP) Microchip, increasing its target price to $70 today

Just yesterday Microchip (:MCHP) traded 0.12% higher at $56.63. MCHP’s 50-day average is $53.17 and its two hundred day average is $48.92. With the last stock price up 15.76% from the two hundred day moving average, compared with the Standard & Poor’s 500 Index which has increased 0.00% over the date range. Volume of trade was was down over the average, with 1,953,294 shares of MCHP changing hands under the typical 2,065,620 shares..

Needham raised the target price of Microchip (:MCHP) to $70, reporting a possible upside of 0.24%,

Performance Graphic:

Microchip (:MCHP)

Also covering Microchip’s price target, a total of 12 brokers have released a report on MCHP. The consensus target price is $55.13 with three firms rating the company a strong buy, four analysts rating the company a buy, four firms rating the stock a hold, one brokerage rating the company to underperform, and finally zero firmsrating the stock as sell.

Microchip has a 52 week low of $37.77 and a 52 week high of $58.74 with a PE ratio of 38. Microchip’s market cap is currently $12.2B.

Brief Synopsis On Microchip (:MCHP)

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