Mizuho raised the firm’s price target on Microchip (MCHP) to $85 from $78 and keeps an Outperform rating on the shares. The firm increased targets in the semiconductors and semiconductor capital equipment group as part of an earnings preview. It believes the June quarter will be bottom for auto industrials.
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 $90 from $68 at Citi
- Microchip CEO Steve Sanghi to continue on permanent basis
- Microchip partners with Nippon Chemi-Con, NetVision on ASA-ML platform
- Microchip announces SA15 radiation-hardened DC-DC 15W power converter
- Microchip enhances TrustMANAGER platform to support CRA compliance