Stifel lowered the firm’s price target on Microchip (MCHP) to $75 from $82 and keeps a Buy rating on the shares. The company reported a “solid” fiscal Q2 report, but its Q3 outlook was “a tad light,” with a revenue guidance midpoint of $1.13B that was 3% lower than the firm’s below-Street estimate of $1.16B, the analyst tells investors.
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