Mizuho analyst Vijay Rakesh raised the firm’s price target on Microchip to $79 from $72 and keeps a Neutral rating on the shares following the "good" guidance. The analyst says Microchip is executing well but that 2023 could pose challenges with a softer macro and increased industry supply capacity.
Published first on TheFly
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- Microchip sees Q4 EPS $1.61- $1.63, consensus $1.58
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- Microchip Technology Announces Record Financial Results For Third Quarter of Fiscal Year 2023
- Microchip Technology Increases Quarterly Cash Dividend 41.5% Year-Over-Year to 35.8 Cents Per Share
