Citi analyst Christopher Danely raised the firm’s price target on Microchip to $85 from $74 and keeps a Neutral rating on the shares. The company reported good results and guided above consensus due to extended lead times, the analyst tells investors in a research note. However, Citi still expects downside to consensus estimates.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MCHP:
- Microchip sees Q4 EPS $1.61- $1.63, consensus $1.58
- Microchip boosts dividend 41.5% to 35.8c per share
- Microchip reports Q3 EPS $1.56, consensus $1.55
- 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
