Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating on Microchip on Wednesday, setting a price target of $195, which is approximately 32.82% above the present share price of $146.82.
Mosesmann 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 $185.4.
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 $40.23 billion.
According to TipRanks.com, Rosenblatt Securities analyst Hans Mosesmann is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 29.0% and a 72.51% 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.