Mizuho Securities analyst Vijay Rakesh maintained a Hold rating on Microchip on Tuesday, setting a price target of $163, which is approximately 12.42% above the present share price of $144.99.
Rakesh expects Microchip to post earnings per share (EPS) of $0.43 for the third quarter of 2021.
The current consensus among 10 TipRanks analysts is for a Strong Buy rating of shares in Microchip, with an average price target of $183.9.
The analysts price targets range from a high of $200 to a low of $163.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $1.47 billion and a net profit of $300.8 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 26.5% and a 69.66% 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.