Needham raised the firm’s price target on Microchip (MCHP) to $75 from $73 and keeps a Buy rating on the shares. The firm cites the company’s outlook that Q3 revenue and EPS would come in at the high end of prior guidance, with improved bookings and backlog driving the upside and orders being pulled in from March to December, the analyst tells investors in a research note. Demand in A&D and Data Center remains robust, while communications, auto, and industrial demand has recently strengthened, the firm added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCHP:
- Positive Outlook for Microchip: Strong Revenue Growth and Sector Demand Drive Buy Rating
- SMH ETF News: Fund Flow Statistics – 12/3/25
- Early notable gainers among liquid option names on December 3rd
- Video: Marvell rises after earnings, Celestial AI deal
- Microchip announces PAC1711, PAC1811 power monitors