Microchip price target raised to $98 from $94 at Stifel

Stifel raised the firm’s price target on Microchip to $98 from $94 and keeps a Buy rating on the shares. Ahead of what the firm identifies as “a crucial earnings period ahead of what could be a possible bottoming in analog, mixed-signal semiconductor markets,” Stifel argues that those companies that corrected the earliest and hardest will likely see the strongest and earliest recovery.