Truist analyst William Stein lowered the firm’s price target on Microchip (MCHP) to $60 from $64 and keeps a Hold rating on the shares. The company beat Q3 modestly, but guided Q4 somewhat below consensus and down sequentially, the analyst tells investors in a research note. The firm adds however that the management views this as a speed-bump on the way to a bigger recovery in 2026.
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