Microchip Technology (NASDAQ:MCHP) Had Its Target Price Lowered by 5.26% at Citigroup to $54.00 – Octafinance

In an analyst report revealed by Citigroup on Monday, 20 July, Microchip Technology (NASDAQ:MCHP) had its target price per share cut to $54.00. The firm presently has Buy rating on the stock.

The target decrease was noticed by stock traders, as NASDAQ:MCHP is now trading -0.16% lower at $44.27 as of 10:16 New York time. Microchip Technology’s stock is down -3.98% in the last 200 days. It has underperformed the S&P500 Index, which has surged 7.83% in the same time period.

Out of 12 brokers covering Microchip Technology, 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $61 and the lowest is $47 according to Thomson/First Call. The 12-month mean target is $53.75, which means upside potential of 21.41% over the current price.

Read more: http://www.octafinance.com/microchip-technology-nasdaqmchp-had-its-target-price-lowered-by-5-26-at-citigroup-to-54-00/107899/#ixzz3gdvGz024

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