Analyst Price Target Update on Microchip Technology Incorporated (NASDAQ:MCHP)

Microchip Technology Incorporated (NASDAQ:MCHP) stock has received a short term price target of $ 54.28 from 9 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $7.22. The higher estimate of target price is $63 , while the lower price target estimate is $40

Many analysts have stated their opinion on the company shares. CLSA initiates coverage on Microchip Technology Incorporated (NASDAQ:MCHP). The rating major has initiated the coverage with buy rating on the shares. The Analysts at CLSA announces a current price target of $58 per share. The rating by the firm was issued on May 17, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Moorthy Ganesh, officer (COO) of Microchip Technology Inc, had unloaded 10,000 shares at an average price of $51.69 in a transaction dated on June 1, 2016. The total value of the transaction was worth $516,900.

Microchip Technology Incorporated (NASDAQ:MCHP) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.34 points or 0.65% at $51.91 with 1,432,827 shares getting traded. Post opening the session at $52.01, the shares hit an intraday low of $51.84 and an intraday high of $52.43 and the price was in this range throughout the day. The company has a market cap of $11,151 million and the number of outstanding shares have been calculated to be 214,815,220 shares. The 52-week high of Microchip Technology Incorporated (NASDAQ:MCHP) is $53.17 and the 52-week low is $37.77.

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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