As of April 25, 2023, Microchip Technology (NASDAQ:MCHP) has received ratings from 17 analysts in the last quarter. Six analysts have rated the stock as bullish, five as somewhat bullish, and six as indifferent. None of the analysts have rated the stock as somewhat bearish or bearish. The current average price target of these analysts is $96.65, which is 29.5% higher than the current price of Microchip Technology at $75.01. This indicates a promising future for the company.
According to investorsobserver.com, Microchip Technology is the highest-rated company in the Semiconductors industry with an overall score of 79. This score is based on short- and long-term indicators and means that MCHP scores better than 79% of the overall market. This is a testament to the company’s performance and potential.
Marketwatch.com reports that the average target price for Microchip Technology is $97.68, with ratings from 25 analysts. Tipranks.com says that the average price target for Microchip Technology is $98.30, with a high forecast of $125.00 and a low forecast of $79.00. These numbers indicate that the company is expected to perform well.
Overall, the analyst ratings for Microchip Technology have been positive, with most analysts rating the stock as bullish or somewhat bullish. The average price target of $96.65 implies a significant upside potential for the stock. This makes Microchip Technology a promising investment opportunity for the future.
MCHP Stock Update: Earnings Growth and Competitor Analysis
On April 25, 2023, MCHP stock opened at 76.76, slightly lower than the previous day’s closing price of 77.27, with a volume of 236,169 shares traded. The market capitalization of MCHP was $42.1 billion. MCHP has been performing well in earnings growth, with a growth rate of 245.84% in the previous year and 30.21% in the current year. Additionally, MCHP experienced revenue growth of 25.42% in the last year. The P/E ratio of MCHP is 20.1, the price/sales ratio is 6.23, and the price/book ratio is 7.22. MCHP’s competitors, STMSTMicroelectronics N, NXPINXP Semiconductors N, and MRVLMarvell Technology I, were down by 3.44%, 3.19%, and 4.75%, respectively. MCHP is expected to report its earnings on May 8, 2023, with an EPS forecast of $1.62. MCHP operates in the electronic technology sector and the semiconductor industry. The company is headquartered in Chandler, Arizona, with no executives to display.
Microchip Technology Inc (MCHP) Stock Forecast: Median Target Price of $99.50 Representing a +33.77% Increase
On April 25, 2023, Microchip Technology Inc (MCHP) stock had a median target price of $99.50, according to 22 analysts offering 12-month price forecasts. The high estimate was $125.00, while the low estimate was $79.00. This median estimate represented a +33.77% increase from the last price of $74.38.
The current consensus among 25 polled investment analysts was to buy stock in Microchip Technology Inc.
Microchip Technology Inc reported earnings per share of $1.62 and sales of $2.2B for the current quarter. The reporting date was set for May 08, 2023.
Looking at the stock performance of MCHP on April 25, 2023, it can be inferred that the company was expected to perform well in the coming months. The upcoming earnings report on May 08, 2023, would provide further insight into the company’s performance. If the earnings per share and sales figures exceeded expectations, it could further increase the stock price.