Microchip Technology Incorporated has received a “Moderate Buy” recommendation from eighteen brokerages covering the firm, according to MarketBeat Ratings. Out of these, four analysts have rated the stock as a hold, while fourteen have given it a buy recommendation. The average 12-month price target for the stock is $101.06.
In recent reports, various analysts have provided their opinions on the stock, with several raising their price targets and giving buy ratings. This positive sentiment is reflected in the company’s stock performance, which opened at $92.06 on Wednesday. Microchip Technology has a market capitalization of $49.43 billion and a PE ratio of 26.53. The company also recently increased its dividend payout, demonstrating its commitment to shareholders.
Investors have shown interest in Microchip Technology, with various institutional investors and hedge funds increasing their stakes in the company. The firm specializes in developing smart, connected, and secure embedded control solutions for a range of applications.
In terms of financial performance, Microchip Technology recently reported earnings per share of $0.57, meeting analysts’ consensus estimates. The company’s revenue for the quarter was $1.33 billion. With positive analyst ratings, strong financial performance, and investor interest, Microchip Technology continues to be a key player in the semiconductor industry.
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