Mizuho Securities Starts Microchip Technology (MCHP) at Neutral

Mizuho Securities initiates coverage on Microchip Technology (NASDAQ: MCHP) with a Neutral rating and a price target of $67.00.

Analyst Vijay Rakesh commented, "MCHP has executed well, and organic growth and a solid M&A strategy that has delivered stable earnings and FCF growth. However, we believe a quickly consolidating semiconductor market implies fewer M&A targets remain, while a predominant position in 8-bit/16-bit MCUs is a L-T drag. Initiating with a Neutral rating and $67 price target."

For an analyst ratings summary and ratings history on Microchip Technology click here. For more ratings news on Microchip Technology click here.

Shares of Microchip Technology closed at $61.97 yesterday.

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