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Analyst Ratings: Microchip Technology (NASDAQ:MCHP)
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Semi conductor companies have been offering good value to investors of late. So we take a look at Microchip Technology Inc. (NASDAQ:MCHP) to see if the market experts, the analysts, think this stock looks like a good buy or not. [Trend Analysis]
Microchip Technology Inc. (NASDAQ:MCHP) last traded at $48.09 after moving down -3.08% for the trading day. The company last released their quarterly earnings results on 01-29-15 for the period ended Dec-14. The company reported earnings of $0.60 against a Zack’s research estimate of $0.56. This represents a 7.14% surprise on the expected result.
The current average broker recommendation for Microchip Technology Inc., according to Zack’s research, is 2.43, based on 7 broker ratings. With 1 being a strong buy and 5 being a strong sell, this means that on a consensus basis, analysts currently see Microchip Technology Inc. as a buy. The 12 month target consensus price estimate among these analysts for Microchip Technology Inc. is currently at $51.86.
Out of the 7 broker recommendations for MCHP, 2 recommend it as a strong buy, 0 as a buy, 5 as a hold 0 as a sell and 0 as a strong sell.
For the current quarter, the consensus analyst estimate for Microchip Technology Inc. (NASDAQ:MCHP) is $0.62, with analysts expecting year on year growth for the company of 6.90%
About Microchip Technology Inc. (NASDAQ:MCHP)
Microchip Technology, Inc. develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications. Its product portfolio comprises microcontrollers; application-specific standard products; and related mixed-signal and memory products. The company markets its products to the consumer, automotive, office automation, communications and industrial markets.
