Within the last quarter, Microchip Technology (NASDAQ:MCHP) has observed the following analyst ratings:

In the last 3 months, 12 analysts have offered 12-month price targets for Microchip Technology. The company has an average price target of $79.75 with a high of $90.00 and a low of $70.00.

Below is a summary of how these 12 analysts rated Microchip Technology over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock

This current average has decreased by 10.72% from the previous average price target of $89.33.

How Are Analyst Ratings Determined?

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

This article was generated by Benzinga's automated content engine and reviewed by an editor.