Microchip Technology Stock Rating Upgraded by Citigroup (MCHP)

Share on StockTwits

Citigroup upgraded shares of Microchip Technology (NASDAQ: MCHP) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, TheFlyOnTheWall.com reports. They currently have $47.00 target price on the stock, up from their previous target price of $39.00.

Shares of Microchip Technology (NASDAQ: MCHP) opened at 37.24 on Wednesday. Microchip Technology has a one year low of $28.92 and a one year high of $37.63. The stock’s 50-day moving average is currently $36.10. The company has a market cap of $7.296 billion and a P/E ratio of 60.06.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.35 per share. This represents a $1.41 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, May 17th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.35.

Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research upgraded shares of Microchip Technology from a sell rating to a neutral rating in a research note to investors on Monday, May 13th. Separately, analysts at Stifel Nicolaus raised their price target on shares of Microchip Technology from $40.00 to $48.00 in a research note to investors on Monday, May 6th. They now have a buy rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Microchip Technology from $40.00 to $42.00 in a research note to investors on Friday, May 3rd. They now have a positive rating on the stock.

Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $37.64.

Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a range of embedded control applications.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with Analyst Ratings Network's FREE daily email newsletter.

Latest News

Snapchat CEO Confirms Plan for an IPO
Snapchat CEO Confirms Plan for an IPO
Richest Man in China Bet Shares Would Drop at His Company
Richest Man in China Bet Shares Would Drop at His Company
NSA Planned Hacking of Android Phones and Google Play Store
NSA Planned Hacking of Android Phones and Google Play Store
Best Buys Sales and Profit Beat Expectations
Best Buys Sales and Profit Beat Expectations
Urban Outfitters Plunges as Earnings Miss for First Quarter
Urban Outfitters Plunges as Earnings Miss for First Quarter
Hertz Making Attempt to Increase Rental Car Prices
Hertz Making Attempt to Increase Rental Car Prices


Advertisement
Advertisement
© 2006-2015 Ticker Report. Google+.