BofA analyst Vivek Arya raised the firm’s price target on Microchip (MCHP) to $75 from $70 and keeps a Neutral rating on the shares as part of a Q2 preview for the analog semiconductor group. The firm says industrial and auto data points are mixed but improving in the near-term. The analyst cites valuation for the Neutral rating on the shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCHP:
- Microchip price target raised to $82 from $70 at Stifel
- Microchip enters into partnership agreement with Delta Electronics
- Trump says drug tariffs probable by August 1, semis coming soon, Bloomberg says
- Microchip expands space-qualifies FPGA portfolio
- Microchip initiated with a Buy at Goldman Sachs