Short Term Rating on Microchip Technology Incorporated (MCHP)

Microchip Technology Incorporated (MCHP) : Zacks Investment Research ranks Microchip Technology Incorporated (MCHP) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 1.88, which indicates as a Buy.

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 $54.28. The maximum price target given is $63 and the minimum target for short term is around $40, hence the standard deviation is calculated at $7.22.

For the current week, the company shares have a recommendation consensus of Buy.


Microchip Technology Incorporated (NASDAQ:MCHP): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.68 and $52.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.10, notching a gain of 1.43% for the day. The total traded volume was 1,826,929 . The stock had closed at $52.35 on the previous day.

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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