Microchip Receives a Hold from SunTrust Robinson

By Ryan Adsit

In a report released yesterday, William Stein from SunTrust Robinson reiterated a Hold rating on Microchip (NASDAQ: MCHP), with a price target of $90. The company’s shares opened today at $91.47, close to its 52-week high of $92.40.

According to TipRanks.com, Stein is a 4-star analyst with an average return of 10.6% and a 68.4% success rate. Stein covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Texas Instruments, and Maxim Integrated.

Microchip has an analyst consensus of Moderate Buy, with a price target consensus of $100.33.

Microchip’s market cap is currently $21.39B and has a P/E ratio of 49.29. The company has a book value ratio of 6.2694.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MCHP in relation to earlier this year. Most recently, in August 2017, Day L B, a Director at MCHP bought 5,622 shares for a total of $456,731.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Microchip Technology, Inc. engages in developing and manufacturing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments.