JP Morgan has reaffirmed its “Overweight” rating for Microchip Technology, adjusting its price target down to $100 from $120. This revision reflects a decrease of 16.7% in the projected stock price.
The new price target suggests a potential upside of 71.4% based on Microchip Technology’s closing price of $58.35 on November 6.
Recent Analyst Activity
On the same day, several other firms issued their assessments of Microchip Technology. Jefferies maintained a “Buy” rating with a price target of $85. Citigroup also kept its “Buy” rating while setting a price target of $75. Meanwhile, Truist Securities held a “Hold” rating with a price target of $62. B. Riley Securities also maintained a “Buy” rating at $85, and Wells Fargo assigned an “Equal-Weight” rating with a target of $70.
Over the past 30 days, the price targets from these analysts for Microchip Technology have varied significantly, spanning from $62 to $85.
For more detailed forecasts and the latest updates on Microchip Technology’s ratings, interested parties can access the relevant data through the Forecasts tab and track analysis through the dedicated News Flow.
