Over the past 3 months, 19 analysts have published their opinion on Microchip Technology (NASDAQ:MCHP) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

In the last 3 months, 19 analysts have offered 12-month price targets for Microchip Technology. The company has an average price target of $78.63 with a high of $92.00 and a low of $60.00.

Below is a summary of how these 19 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 represents a 4.17% decrease from the previous average price target of $82.05.

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 publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

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