Credit Suisse analyst John Pitzer expects Microchip Technology's (MCHP) "strong" track record on M&A continuing after the company announced its acquisition of Microsemi (MSCC) in conjunction with its Analyst Day. In a research note to investors, Pitzer said that while Microsemi is Microchip's largest and most expensive acquisition ever, Microchip continues to demonstrate an ability to drive accretive transactions and "it remains a clear core management competency" to integrate assets. The analyst has an Outperform rating and $110 price target on Microchip.

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

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