Microchip Introduces Hardware Cryptography-Enabled 32-bit Microcontroller for Internet of Things Applications

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Jefferies Raises Price Target on Microchip Technology (MCHP) Following 4Q Beat

May 5, 2016 9:42 AM EDT

Jefferies reiterated a Buy rating on Microchip Technology (NASDAQ: MCHP), and raised the price target to $56.00 (from $53.00), following the company's 4Q earnings report. MCHP reported sales of $568m, 100bps above consensus' $563m. EPS of $0.70 was 2c above consensus. MCHP expects JunQ sales of... More