Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Microchip on Tuesday, setting a price target of $112, which is approximately 10.10% above the present share price of $101.73.
Rakesh expects Microchip to post earnings per share (EPS) of $0.42 for the third quarter of 2020.
The current consensus among 19 TipRanks analysts is for a Strong Buy rating of shares in Microchip, with an average price target of $120.11.
The analysts price targets range from a high of $140 to a low of $95.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $1.33 billion and a net profit of $177.9 million. The company's market cap is $26.47 billion.
According to TipRanks.com, Mizuho Securities analyst Vijay Rakesh is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 20.1% and a 64.40% 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.