Microchip Technology (MCHP, Financial) has recently garnered attention in the stock market following a new analyst rating from Cantor Fitzgerald. Renowned analyst Matthew Prisco has initiated coverage on Microchip Technology, providing a "Neutral" rating.
This coverage comes with an announced price target of $70.00 USD, marking the initial stance from Cantor Fitzgerald. As there was no prior coverage or price target to compare, this initiation serves as a baseline for investors evaluating MCHP stock.
The analysis by Cantor Fitzgerald is one among various ratings that investors can consider when making informed decisions regarding Microchip Technology (MCHP, Financial) in the ever-evolving stock market landscape.
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 $66.01 with a high estimate of $85.00 and a low estimate of $50.00. The average target implies an downside of 4.42% from the current price of $69.06. 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 2.0, 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 $49.68, suggesting a downside of 28.06% from the current price of $69.06. 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.
