Analyst Rating Update on Microchip Technology Incorporated (MCHP)

Microchip Technology Incorporated (NASDAQ:MCHP) has an average broker rating of 1.88, which is interpreted as a Buy, as rated by 8 equity analysts. Nonetheless, 4 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 3 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Microchip Technology Incorporated (NASDAQ:MCHP) : The highest short term price target forecast on Microchip Technology Incorporated (NASDAQ:MCHP) is $63 and the lowest target price is $40. A total of 9 equity analysts are currently covering the company. The average price of all the analysts is $54.28 with a standard deviation of $7.22.

For the current week, the company shares have a recommendation consensus of Buy. Also, CLSA initiates coverage on Microchip Technology Incorporated (NASDAQ:MCHP). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $58 per share. The rating by the firm was issued on May 17, 2016.

Microchip Technology Incorporated (NASDAQ:MCHP): stock turned positive on Tuesday. Though the stock opened at $48.79, the bulls momentum made the stock top out at $49.54 level for the day. The stock recorded a low of $48.61 and closed the trading day at $49.36, in the green by 2.56%. The total traded volume for the day was 1,976,639. The stock had closed at $48.13 in the previous days trading.

In an insider trading activity,The officer (COO) of Microchip Technology Inc, Moorthy Ganesh sold 10,000 shares at $51.69 on June 1, 2016. The Insider selling transaction had a total value worth of $516,900. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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