Mizuho lowered the firm’s price target on Microchip to $82 from $86 and keeps a Neutral rating on the shares post the Q4 report. While the company pointed to pricing stable, it noted broad-based demand weakness, the analyst tells investors in a research note. The firm says customer inventories elevated with requests to push out backlog.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MCHP:
- Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2024
- Microchip Technology Increases Quarterly Cash Dividend 25.7% Year-Over-Year to 45.0 Cents Per Share
- MCHP Upcoming Earnings Report: What to Expect?
- Microchip releases PIC16F13145 family of microcontrollers
- The Next Evolutionary Step in Customizable Logic, Microchip Releases PIC16F13145 Family of MCUs
