Truist lowered the firm’s price target on Microchip (MCHP) to $68 from $71 and keeps a Hold rating on the shares. The firm reiterated a cautious semiconductor and artificial intelligence sector view, but is more constructive on Nvidia (NVDA) and Monolithic Power (MPWR) while more cautious on Tesla (TSLA). A new analysis suggests we may have additional downward pressure to estimates, the analyst tells investors in a research note.
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Read More on MCHP:
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- Microchip announces new family of ATA650x CAN FD SBCs
- Microchip downgraded to Underperform from Neutral at BofA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
