KeyBanc analyst John Vinh maintained a Buy rating on Microchip on Wednesday, setting a price target of $170, which is approximately 21.26% above the present share price of $140.19.
Vinh expects Microchip to post earnings per share (EPS) of $0.29 for the first quarter of 2021.
The current consensus among 14 TipRanks analysts is for a Strong Buy rating of shares in Microchip, with an average price target of $147.31.
The analysts price targets range from a high of $180 to a low of $120.
In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $1.31 billion and a net profit of $230.5 million. The company's market cap is $37.13 billion.
According to TipRanks.com, KeyBanc analyst John Vinh is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 15.1% and a 63.64% success rate.
Microchip Technology (NASDAQ:MCHP), Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.