Microchip Technology (MCHP, Financial), a leading provider of microcontroller and analog semiconductors, recently received an updated price target from UBS. According to analyst Pradeep Ramani, the new price target for MCHP has been raised to $65.00 USD, up from the prior target of $60.00 USD, marking an 8.33% increase.
The rating for Microchip Technology (MCHP, Financial) remains unchanged at "Buy," as UBS continues to maintain its positive outlook on the stock. This consistent rating reflects confidence in MCHP's growth potential and market position.
Investors have shown interest in MCHP following this update, as it suggests upbeat prospects for the company's stock performance. The revised price target and reaffirmation of the "Buy" rating underscore the anticipated continuation of strong performance by Microchip Technology.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Microchip Technology Inc (MCHP, Financial) is $63.04 with a high estimate of $75.00 and a low estimate of $50.00. The average target implies an upside of 8.82% from the current price of $57.94. More detailed estimate data can be found on the Microchip Technology Inc (MCHP) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, Microchip Technology Inc's (MCHP, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Microchip Technology Inc (MCHP, Financial) in one year is $48.60, suggesting a downside of 16.11% from the current price of $57.935. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Microchip Technology Inc (MCHP) Summary page.
