Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Microchip on Thursday, setting a price target of $165, which is approximately 13.29% above the present share price of $145.64.
Rakesh expects Microchip to post earnings per share (EPS) of $0.14 for the second quarter of 2021.
The current consensus among 7 TipRanks analysts is for a Strong Buy rating of shares in Microchip, with an average price target of $175.29.
The analysts price targets range from a high of $194 to a low of $165.
In its latest earnings report, released on 12/31/2020, the company reported a quarterly revenue of $1.35 billion and a net profit of $249.9 million. The company's market cap is $39.22 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 24.6% and a 66.58% success rate.
Founded in 1989, Arizona-based Microchip Technology (NASDAQ:MCHP), Inc. is a leading provider of smart, connected and secure embedded control solutions. The company's solutions serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets.