Mizuho lowered the firm’s price target on Microchip to $79 from $86 and keeps a Neutral rating on the shares post the earnings report. The analyst sees near-term challenges for the company with softening demand and elevated inventory levels.
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Read More on MCHP:
- Options Volatility and Implied Earnings Moves Today, November 03, 2023
- Microchip sees Q3 EPS $1.09-$1.17, consensus $1.44
- Microchip reports Q2 EPS $1.62, consensus $1.61
- Microchip raises cash dividend 33.8% year-over-year to 43.9c per share
- Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024
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