Microchip price target raised to $100 from $85 at Susquehanna

Susquehanna analyst Christopher Rolland raised the firm’s price target on Microchip to $100 from $85 and keeps a Positive rating on the shares. The analyst said Microchip announced better results and guidance as supply continues to improve and backlog holds together nicely. Indeed, as the company’s PSP and tough NCNR program may inflame customers in the long-term, they undoubtedly have limited cancellations to date.