TD Cowen raised the firm’s price target on Microchip to $80 from $75 and keeps a Market Perform rating on the shares. The firm said the MarQ was guide below the Street as Microchip is in the thick of a significant correction. Underutilization will pressure GMs, and Cowen took their below-Street numbers down materially to be conservative given little-no visibility.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
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
