Microchip Technology (MCHP) Cuts Q2 Outlook
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Needham & Company Downgrades Microchip Technology (MCHP) to Hold
October 10, 2014 7:27 AM EDTNeedham & Company downgraded Microchip Technology (NASDAQ: MCHP) from Buy to Hold following the company's negative pre-announcement.
Analyst Rajvindra S. Gill comments, "MCHP negatively revised its revenue guidance for the upcoming quarter and issued bearish commentary, suggesting the beginning of an inventory correction... More
Microchip (MCHP) PT, Est. Cut at Susquehanna Amid Q2 Warning
October 10, 2014 6:57 AM EDTSusquehanna analyst Chris Caso lowered estimates and his price target on Microchip Technology (NASDAQ: MCHP) to $48.00 (from $55.00) following the company's warning after the close. However, the firm maintained a Positive rating.
Caso commented, "MCHPs preannouncement last night leaves us with little doubt that an industry correction is upon us. The breadth of MCHP's business across such a large number of customers and... More
